Berachain's anonymous co-founder, Smokey the Bera, challenges reports that lead investor Brevan Howard’s Nova Digital fund secured a rare $25 million refund right on its Series B investment. This unusual clause, allowing the fund to reclaim capital post-token generation, raises questions about transparency and fairness as BERA token prices languish two-thirds below the investor’s entry point. Legal experts call the refund right highly uncommon and potentially in conflict with Most Favored Nation provisions. Despite setbacks including significant token price drops and network security incidents, Berachain is pursuing a recovery with new strategic investments and structural changes.
Continue to read Berachain Founder Disputes Reports of $25M Investor Refund Clause Amid Token Price Decline
Berachain's anonymous co-founder, Smokey the Bera, challenges reports that lead investor Brevan Howard’s Nova Digital fund secured a rare $25 million refund right on its Series B investment. This unusual clause, allowing the fund to reclaim capital post-token generation, raises questions about transparency and fairness as BERA token prices languish two-thirds below the investor’s entry point. Legal experts call the refund right highly uncommon and potentially in conflict with Most Favored Nation provisions. Despite setbacks including significant token price drops and network security incidents, Berachain is pursuing a recovery with new strategic investments and structural changes.
Continue to read Berachain Founder Disputes Reports of $25M Investor Refund Clause Amid Token Price Decline
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