Berachain Clarifies BERA Token Details as Smokey the Bera Denies $25 Million Refund Claim and Confirms Nova Fund’s Ongoing Liquidity Support

In response to circulating social media chatter about Berachain‘s alleged $25 million refund commitment to Nova Digital in the B-round, Smokey the Bera, Co-Founder of Berachain, dismissed the claim as neither accurate nor complete.

He clarified Brevan Howard‘s investment arrangement: via its Abu Dhabi office’s Nova Fund, Brevan Howard co-led Berachain’s B-round financing a year ago, with terms aligned with other investors. Nova‘s compliance team sought additional terms to hedge against TGE failure and listing risk; both parties signed an extra commercial agreement including a liquidity commitment post-launch.

Smokey the Bera emphasized that Nova remains among Berachain’s largest token holders, potentially the largest. By holding locked BERA from the B-round and purchasing additional liquid BERA on the open market, Nova has continued to accumulate despite market fluctuations.