PANews reported on November 25th that, according to Unchained, as of the end of Q2 2025, Framework Ventures' $72.4 million investment in Berachain's Series B funding round, acquiring 21,145,476 BRA tokens, has resulted in a paper loss of over $50.8 million at current prices. It is understood that Framework Ventures and Brevan Howard's Nova Fund co-led Berachain's Series B funding round. Previously, it was reported that Brevan Howard had a $25 million "refund right" on his investment in Berachain. Subsequently, Berachain co-founders denied granting Brevan Howard a "special refund right," stating that the relevant terms were a compliant arrangement and there were precedents in the industry.PANews reported on November 25th that, according to Unchained, as of the end of Q2 2025, Framework Ventures' $72.4 million investment in Berachain's Series B funding round, acquiring 21,145,476 BRA tokens, has resulted in a paper loss of over $50.8 million at current prices. It is understood that Framework Ventures and Brevan Howard's Nova Fund co-led Berachain's Series B funding round. Previously, it was reported that Brevan Howard had a $25 million "refund right" on his investment in Berachain. Subsequently, Berachain co-founders denied granting Brevan Howard a "special refund right," stating that the relevant terms were a compliant arrangement and there were precedents in the industry.