Binance Labs Refutes SkyArk Chronicles’ Funding Allegations

In an unexpected move in the cryptocurrency space, the gaming platform SkyArk Chronicles announced a $15 million fundraising round allegedly led by Binance Labs. The massive player in the cryptocurrency market, Binance Labs, quickly refuted this statement.

The contradictory accounts emerged on social media, accompanied by removing the initial post. Binance Labs categorically denies any involvement in the claimed funding, casting doubt on the accuracy of SkyArk’s statements and raising concerns about the potential repercussions on the gaming platform’s credibility.

Despite SkyArk Chronicles, a self-proclaimed AAA gaming platform, announcing a successful $15 million funding round with Binance Labs at the helm, Binance Labs promptly refuted the assertion, clarifying that it did not partake in the recent financing.

The recent contradiction has piqued interest within the crypto community, prompting blockchain enthusiasts to seek further clarification. Binance Labs explicitly distanced itself from the latest funding round, stating: “It’s important to clarify that Binance did not partake in the project’s most recent financing round this year. We appreciate your attention to this matter”.

Binance Labs Sparks Cryptocurrency Market Stir

As the contradictory statements escalated, SkyArk Chronicles took to the X platform to emphasize the incubation and investment activities in 2021. Simultaneously, the gaming platform asserted that the recently disclosed funding constituted the ‘sole round of investment raised.’ This dispute raises questions about transparency in the crypto space, underscoring the imperative for precise reporting, particularly in an industry reliant on trust and credibility.

On Jan 12, 2024, a prior entry in the SkyArk Chronicles highlighted Binance Labs as the primary participant, alongside other prominent entities, causing a stir in the cryptocurrency market and capturing the interest of market observers. The report specifically identified VividThree, GuildFi, Jambo, and notable industry figures such as Bryan Pellegrino and Wangarian among the key players from approximately 40 institutions.

As the crypto community observes with keen interest, the controversy sparks contemplation on the importance of thorough research, precise disclosures, and the changing dynamics of partnerships within the unpredictable realm of cryptocurrency funding.

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