Smokey The Bera, the pseudonymous co-founder and CEO of Berachain, pushed back on the details of a recent report from Unchained regarding a major investor’s one-year option to get its token investment back.

In an X post responding to Unchained’s report the evening of Nov. 24, Smokey The Bera claimed that the report’s “framing is (A) incomplete and (B) inaccurate,” but did not provide evidence or a full explanation of what Berachain’s CEO says are the true terms of the agreement.

The refund terms in question were exposed earlier on Monday by Unchained, which had obtained a copy of a side letter, alongside other documents, showing that Berachain had granted Nova Digital — a fund inside Brevan Howard’s crypto division, BH Digital — a reportedly unusual right to claim a refund on its $25 million Series B investment in Berachain’s BERA token. Nova Digital led the round back in 2024, alongside Framework Ventures.

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