Why Berachain Gave Brevan Howard a Secret  $25M Escape Hatch - Ep. 961
Unchained26 Marras 2025

Why Berachain Gave Brevan Howard a Secret $25M Escape Hatch - Ep. 961

Crypto funding rounds often look glamorous from the outside: big name investors, big valuations, big narratives. But behind the scenes, the terms can look very different — and sometimes, radically so. In this episode of Bits + Bips, host Steve Ehrlich sits down with reporter Jack Kubinec, who broke the story about Berachain’s Series B and one of the most unusual terms we’ve seen in a major token deal: a lead investor receiving the right to ask for its entire $25 million investment back, for up to a year after Berachain’s token launched. Jack walks through what the documents show, why lawyers say the clause is extremely rare, and how a refund right like this could impact other investors, and even trigger MFN clauses. They also unpack Berachain’s market struggles since TGE, the state of the Nova Digital fund inside Brevan Howard, and the transparency questions this episode raises across crypto venture investing. Read the full story here on Unchained Thank you to our sponsor Uniswap! Host: Steve Ehrlich, Executive Editor at Unchained Guest: Jack Kubinec, Crypto Journalist and Podcast Host Timestamps: 0:00 — Start 0:25 — Steve introduces Jack 2:24 — What the documents reveal 5:17 — Why Brevan Howard’s refund is a big problem 9:21 — How refund clauses really work 14:09 — Jack’s interactions with the Bera team and how Smokey responded to the story 19:29 — Why the MFN clause is key 26:19 — How Breva Howard Digital didn’t actually invest in Bera 30:18 — What investors should learn from a deal like this Learn more about your ad choices. Visit megaphone.fm/adchoices

Jaksot(1083)

Why Bitcoin Has Fallen Behind Gold & What Could Come Next

Why Bitcoin Has Fallen Behind Gold & What Could Come Next

Thank you to our sponsor, Figure! As tensions between the Trump administration and the Federal Reserve rise, gold and silver have surged to record highs. Bitcoin, meanwhile, has struggled to keep pac...

17 Tammi 51min

Bits + Bips: How AI and Energy Prices Will Force the Fed’s Hand

Bits + Bips: How AI and Energy Prices Will Force the Fed’s Hand

Thank you to our sponsor, Uniswap! If trust in central banks erodes, what replaces it? This week’s Bits + Bips connects AI, energy, inflation, and Bitcoin. In this episode of Bits + Bips, hosts Aust...

15 Tammi 53min

DEX in the City: Why the Market Structure Bill May Not Be Good for DeFi

DEX in the City: Why the Market Structure Bill May Not Be Good for DeFi

Thank you to our sponsor, Mantle! After months of anticipation, U.S. Senators have unveiled draft crypto market structure legislation. In this episode of DEX in the City, hosts Jessi Brooks, Katheri...

15 Tammi 52min

The Chopping Block: Venezuela Sanctions Drama + Polymarket Insider Trading + Zcash Foundation Exodus

The Chopping Block: Venezuela Sanctions Drama + Polymarket Insider Trading + Zcash Foundation Exodus

The Chopping Block breaks down the Kontigo Venezuela sanctions scandal, poly market insider trading drama around Maduro's capture, and the explosive Zcash governance crisis that has the entire Electri...

14 Tammi 49min

How Venezuela Shows Why Bitcoin, Crypto and Stablecoins Help Everyday People

How Venezuela Shows Why Bitcoin, Crypto and Stablecoins Help Everyday People

Thank you to our sponsors, Uniswap and Figure Markets! Amid several years of economic challenges, Venezuela boasts a long and intriguing relationship with crypto. Following the capture of President N...

13 Tammi 58min

DEX in the City: Why Prediction Market 'Insider Trading' Isn't Illegal — Yet

DEX in the City: Why Prediction Market 'Insider Trading' Isn't Illegal — Yet

Thank you to our sponsor, Mantle! Canton's in bed with Nasdaq, a Google DeepMind's paper talks up the role of blockchain in an agentic economy and an alleged insider cashes in on Maduro's capture. ...

12 Tammi 44min

How Aave Labs and the DAO Should Split Ownership of the Brand - Uneasy Money

How Aave Labs and the DAO Should Split Ownership of the Brand - Uneasy Money

Thank you to our sponsors, Multichain Advisors and Mantle! Aave DAO on Christmas Day lost the vote to take control of Aave brand assets, but the fight is likely not over. In this Uneasy Money episod...

12 Tammi 1h 26min

Why 2026 Is 'Too Chaotic' to Make Crypto Predictions

Why 2026 Is 'Too Chaotic' to Make Crypto Predictions

Thank you to our sponsor, Mantle! In this Unchained podcast episode, guests Alex Thorn and Ryan Graham share their 2026 outlook for Bitcoin and the broader crypto market, exploring why the year looks...

9 Tammi 1h 11min

Suosittua kategoriassa Politiikka ja uutiset

aikalisa
politiikan-puskaradio
rss-ootsa-kuullut-tasta
tervo-halme
ootsa-kuullut-tasta-2
viisupodi
rss-podme-livebox
et-sa-noin-voi-sanoo-esittaa
otetaan-yhdet
rss-asiastudio
rss-vaalirankkurit-podcast
aihe
the-ulkopolitist
rss-sanna-ukkola-show-verkkouutiset
rikosmyytit
radio-antro
rss-mina-ukkola
rss-kovin-paikka
rss-terveisia-seelannista
rss-tasta-on-kyse-ivan-puopolo-verkkouutiset