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bera

He Yifa wrote a long article listing Xu Mingxing's "six sins," accusing him of deliberately manipulating public opinion to suppress Binance

Binance co-founder He Yi (@heyibinance) published a lengthy article on the X platform on April 10, directly responding to a series of accusations made by OKX founder Xu Mingxing (@star_okx) against CZ and Binance. He Yi refuted each point in the article, stating that Xu deliberately blamed Binance for the market crash on March 11, defined the BNB chain meme as market manipulation by Binance, hired online trolls to suppress competitors, and engaged in "six tactics" such as creating controversies to drive traffic to himself. He bluntly stated, "You know too well how to attack a professional woman," emphasizing that his position is earned through independent effort and is unrelated to anyone else.At the end of the article, He Yi also responded strongly to personal attacks against him, stating, "You know too well how to attack a professional woman, just by stigmatizing 'she is where she is today because of a man,' deliberately creating scandalous rumors, and belittling me as 'a trophy'," and emphasized, "My identity is not given by anyone; I built my own empire. I came, I saw, I conquered; this applies to both my career and my relationships."Previously, CZ (@cz_binance) had posted about Xu Mingxing's public $1 billion bet, demanding that he "apologize like a man." Xu Mingxing responded by stating that CZ's public initiation of a huge bet contradicts the professional ethics expected of executives at regulated exchanges. The debate between the two parties is still ongoing.

first_img The Japanese Liberal Democratic Party has launched a blockchain finance working group to promote a national blockchain finance strategy

The Liberal Democratic Party of Japan today established the "Next Generation AI and On-Chain Finance Vision Project Group," founded by former Digital Minister Hirai Masaki, with former Ministry of Finance official and current chairman of the LDP Blockchain Promotion Parliamentary Alliance Kihara Seiji serving as director. The group is dedicated to formulating a national-level AI-driven on-chain finance framework, marking the formal inclusion of blockchain finance into the structural economic agenda of Japanese politics.Hirai Masaki stated in an interview that the integration of AI and blockchain will first impact the financial industry within a few years, saying, "This is not something that will happen in 5 to 10 years." He pointed out that while Japan already has infrastructure such as the JPYC stablecoin, the joint stablecoin projects of Mitsubishi UFJ, Sumitomo Mitsui, and Mizuho banks, as well as tokenized deposits from Japan Post Bank, there is a lack of a unified blueprint among these components.The project's recent goal is to publish a white paper covering regulatory reform proposals such as trust law, deposit insurance, and KYC frameworks, and to incorporate these into the LDP's growth strategy and the government's annual fiscal policy guidelines, while also pressuring the Financial Services Agency and the Ministry of Finance to accelerate action from regulatory bodies.

Brevan Howard has a $25 million refund right on its investment in Berachain

According to The Block, Unchained columnist Jack Kubinec disclosed in a recent report that Brevan Howard's venture capital investment in Berachain is nearly "zero risk." Documents made public this Monday show that Berachain granted Brevan's crypto investment subsidiary Nova Digital a special right—a one-year refund guarantee on its $25 million Series B funding. This means that despite Brevan co-leading a $69 million funding round for Berachain at a valuation of $1.5 billion, it can still recover its entire investment after the token generation event.It is reported that this right will remain effective until February 6, 2026. Kubinec pointed out in the report: "Such refund clauses completely shield Brevan's fund principal from risk, which is fundamentally different from traditional venture capital models. If Berachain's BERA token performs well, the fund will achieve excess returns; if the token underperforms, the fund can exercise the refund right." Currently, the trading price of the BERA token is about $1, down approximately 67% from Brevan's investment cost of $3. According to data from The Block, the fully diluted valuation of the token is now $536.7 million. The Series B funding was led by Framework Ventures, with participation from Arrington Capital, Hack VC, Polychain, and Tribe Capital. Berachain also completed a $42 million Series A funding in 2023. It is still unclear whether other investors also have refund rights.

The privacy policy of Berachain has been exposed, and Brevan Howard's $25 million investment can be refunded after the TGE, which other investors are not aware of

Berachain granted Brevan Howard, one of the lead investors in its Series B financing, the right to a risk-free refund of its investment after the TGE, without the knowledge of other investors. It is reported that Berachain has raised at least $142 million in total, with its token valued at $1.5 billion in the last round of financing, which was co-led by Framework Ventures and the Nova Digital fund under the $34 billion hedge fund Brevan Howard.A former employee, who requested anonymity, recalled that Berachain co-founder, codenamed "Papa Bear," pointed out that Brevan's involvement could enhance the project's legitimacy. However, the terms of the Series B financing are particularly favorable to Brevan's Nova Digital fund. According to documents, Berachain granted the fund the right to refund its $25 million Series B investment for up to one year after the token generation event on February 6, 2025.This clause means that unlike traditional venture capital, the principal of the Brevan fund carries zero risk: if the BERA token performs well, the fund can enjoy the profits; if it performs poorly, the fund can demand a full refund. Four lawyers specializing in the crypto field stated that granting investors the right to a refund after the TGE is extremely rare. Two of the lawyers noted that even when refund rights appear in token financing, they typically only trigger if the project fails to issue tokens.If Nova Digital exercises its refund right (the current token price has dropped about 66% from the $3 investment price, making exercising the right financially logical), it could force Berachain to raise $25 million in cash to repay its investors. According to project documents, the tokens purchased by Berachain investors have a one-year lock-up period, so if Nova exercises its refund right, it may forfeit its BERA allocation. It remains unclear whether Nova's refund right is legal—especially since other investors were not informed of this clause. The deadline for Nova Digital to exercise its refund right is February 6, 2026.
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