Berachain陷退款權風波:Brevan Howard基金獲2500萬美元特殊條款
After the token generation event on February 6, 2025, Berachain was revealed to have granted Brevan Howard’s Nova Digital Fund a refund right for its $25 million investment, valid until February 6, 2026. This rare clause allows the fund to recover its principal even if the price of the BERA token plummets by 66%, while other investors such as Framework Ventures have already experienced unrealized losses of over $50 million. Legal experts point out that such clauses may violate securities law disclosure requirements and most-favored-nation provisions, prompting the industry to re-examine the transparency of venture investment terms.