Verify a decision

{"actor":"system:backfill","investigation_id":"caeadd5b-327b-4241-85a3-5550c71e7f31","kind":"publish","page_slug":"brlv","published_at":"2026-11-08T12:11:05.076Z","sequence_num":1,"snapshot":{"content_type":"investigation","entity_name":"BRLV","sections":[{"content":"BRLV is issued by Crown. Crown raised an $8.1 million seed round led by Framework Ventures, with participation reported from Valor Capital Group, Coinbase Ventures, Norte Ventures and Paxos. In December 2025 Paradigm led a $13.5 million Series A, reported at a $90 million valuation, its first Brazil investment. Co-founders named are John Delaney (CEO) and Vinicius Correa. Nubank co-founder Ed Wible is reported as an individual investor.","heading":"Issuer and funding","severity":"low","sources":[{"credibility":2,"name":"The Block - Paradigm bets $13.5M on Crown","type":"news_article","url":"https://www.theblock.co/post/381596/crypto-vc-paradigm-bets-13-5-million-on-stablecoin-startup-crown-in-first-brazil-investment"},{"credibility":2,"name":"Blockworks - Crown raises $8.1M to launch BRLV","type":"news_article","url":"https://www.blockworks.co/news/crown-brlv-brazilian-real-stablecoin"}]},{"content":"Crown says BRLV is fully backed by Brazilian government bonds. As of December 2025 it reported over R$360 million (about $66 million) in subscriptions, and described BRLV as available only to institutional customers. These figures are company claims as relayed by media. An aggregator page mentions an audit by Fact Finance, but that came from a low-quality aggregator summary and was not independently verified here. Crown also states a long-term goal of R$1 trillion in circulation, which is a target and not a reported figure.","heading":"Reserves, supply and access","severity":"medium","sources":[{"credibility":2,"name":"The Block - Paradigm bets $13.5M on Crown","type":"news_article","url":"https://www.theblock.co/post/381596/crypto-vc-paradigm-bets-13-5-million-on-stablecoin-startup-crown-in-first-brazil-investment"},{"credibility":3,"name":"Stablecoin dashboard - BRLV Crown","type":"other","url":"https://stablecoin-dashboard.pages.dev/stablecoin/brlv-crown/"}]},{"content":"No hacks, depegs, regulatory actions, court filings or fraud allegations involving BRLV or Crown were found in the searches performed. This is an absence of evidence and not a clearance. Data aggregators such as CoinDesk label the ticker differently (for example 'High Velocity BRLY'), which may cause confusion between sources.","heading":"Adverse findings","severity":"low","sources":[{"credibility":2,"name":"CoinDesk BRLV price page","type":"other","url":"https://www.coindesk.com/price/brlv"}]}],"sources_used":[{"credibility":2,"name":"The Block - Paradigm bets $13.5M on Crown","type":"news_article","url":"https://www.theblock.co/post/381596/crypto-vc-paradigm-bets-13-5-million-on-stablecoin-startup-crown-in-first-brazil-investment"},{"credibility":2,"name":"Blockworks - Crown raises $8.1M to launch BRLV","type":"news_article","url":"https://www.blockworks.co/news/crown-brlv-brazilian-real-stablecoin"},{"credibility":3,"name":"Stablecoin dashboard - BRLV Crown","type":"other","url":"https://stablecoin-dashboard.pages.dev/stablecoin/brlv-crown/"},{"credibility":2,"name":"CoinDesk BRLV price page","type":"other","url":"https://www.coindesk.com/price/brlv"}],"summary":"BRLV is a Brazilian real-pegged stablecoin issued by Crown, a Sao Paulo-based fintech, which says it is backed by Brazilian government bonds. Crown has raised venture funding from Framework Ventures and Paradigm. No enforcement actions, hacks or fraud allegations were found, but independent reserve attestation could not be verified in this research.","timeline":[{"date":"2025-10","event":"Crown reported to have raised an $8.1M seed round led by Framework Ventures to launch BRLV.","source":"Blockworks","source_url":"https://www.blockworks.co/news/crown-brlv-brazilian-real-stablecoin"},{"date":"2025-12-08","date_evidence":"Paradigm announced the deal on Monday, and The Block published the article that morning (December 8, 2025)","event":"Paradigm announces $13.5M Series A in Crown at a reported $90M valuation.","source":"The Block","source_url":"https://www.theblock.co/post/381596/crypto-vc-paradigm-bets-13-5-million-on-stablecoin-startup-crown-in-first-brazil-investment"}]},"v":1}