Framework, the lead investor in Berachain's Series B funding round, is reportedly holding BERA at a book loss of over $50.8 million.

According to ChainCatcher, market sources indicate that as of the end of Q2 2025, Framework Ventures, the crypto venture capital firm that co-led Berachain's Series B funding round with Brevan Howard Digital's Nova Fund, holds 21,145,476 BERA tokens. The total purchase cost of these tokens is approximately $72.4 million. Based on their average purchase price of $3.42, at the current price, this portion of BERA would result in a paper loss of over $50.8 million for Framework. Framework Ventures has not responded to multiple requests for comment.

Previous reports revealed Berachain's privacy policy, stating that Brevan Howard's $25 million investment could be refunded after TGE, a fact unknown to other investors. In response to reports that "Nova Digital has a $25 million investment refund right," Berachain's co-founder stated that this is "neither accurate nor complete," and that Nova remains one of the largest token holders.