[Berachain Privacy Clause Revealed: Brevan Howard Granted $25 Million Refund Right]
Berachain, without the knowledge of other investors, granted Nova Digital Fund under Brevan Howard, one of the lead investors in the Series B financing round, the right to exercise a $25 million investment refund within up to one year after the token generation event (TGE) on February 6, 2025. Documents show that this clause ensures zero risk to Nova Fund's principal, allowing a full refund if the token performs poorly. Four crypto industry lawyers pointed out that such clauses are extremely rare, and it remains unclear whether other investors were informed or if the clause is legally valid. The deadline for Nova Fund's refund right is February 6, 2026.