Berachain co-founder Smokey The Bera has issued a statement clarifying recent reports regarding investment refund rights granted to Nova Digital. He asserted that the previous reporting was "neither accurate nor complete," addressing concerns that the terms might have violated standard venture capital agreements. Smokey emphasized that Nova Digital, a subsidiary of Brevan Howard, remains one of the largest token holders and operates under terms consistent with other lead investors. This denial follows a controversial report suggesting that Nova Digital held a unique right to a refund on a $25 million investment, which sparked debate over regulatory compliance and fairness. In addition to clarifying Nova's position, recent reports indicate broader financial pressure within the ecosystem, noting that Framework Ventures faces over $50M in paper losses on its BERA holdings. [Update 1] Added details about Framework Ventures' reported paper losses and reiterated the specific denial regarding the $25 million refund claim.