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BTCC / BTCC Square / Global Cryptocurrency /
Berachain Founder Disputes $25M Refund Report as Layer-1 Blockchain Faces Scrutiny

Berachain Founder Disputes $25M Refund Report as Layer-1 Blockchain Faces Scrutiny

Author:
Global Cryptocurrency
Published:
2025-11-25 11:37:01
12
3
BTCCSquare news:

Berachain's anonymous co-founder Smokey the Bera has challenged investigative reports detailing a $25 million refund clause secured by lead investor Brevan Howard's Nova Digital fund. The arrangement, which allows Nova to reclaim its entire Series B investment until February 2026, has raised eyebrows in crypto legal circles.

The layer-1 blockchain's BERA token currently trades at $1.02, significantly below Nova's $3 entry price. Documents reveal Nova received unusual post-launch protections requiring a $5 million deposit within 30 days of token generation to activate the refund option - a structure that eliminates downside risk while preserving upside potential.

Four cryptocurrency attorneys confirmed such terms are exceptionally rare in token fundraising, where refund rights typically only apply to failed launches. The disclosure intensifies transparency concerns around Berachain's funding practices as the project prepares for its February 2025 token generation event.

|Square

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