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Binance Labs says the funding claims of SkyArk Chronicles are not true.

  • Trust is really important in partnerships involving cryptocurrencies.
  • Good communication is very important.
  • Being clear and honest makes people trust the industry more.

Binance Labs Fund says it didn’t give money to SkyArk Chronicles even though it was reported that they raised $15 million.

Binance’s investment arm, a big cryptocurrency company, said they didn’t know about the investment and only helped SkyArk Chronicles through their program in 2021.

The SkyArk Chronicle
SkyArk Chronicles is a popular gaming platform that was created in 2021. It brings players together in different virtual worlds made by the mythical person Satoshi Nakamoto. The project was supported and recognized when its SkyArk Studio was chosen to be part of Binance Labs’ Incubation Program in Season 3.

Earlier this year, SkyArk Chronicles said they finished getting money and said Binance Labs was the main investor.

Binance Labs’ reaction

Binance Labs quickly and clearly responded to the situation. In a tweet, the company said it was only part of the 2021 SkyArk Chronicles program.

 

 

The statement said they didn’t know about the $15 million funding and had to make a clear statement to tell the truth.

The team behind SkyArk Chronicles didn’t know about the $15M investment and that Binance Labs was leading it before they made the announcement. “If the project had told us and only used the true information, we would have been okay with it. ”

The SkyArk Chronicles had a problem with not understanding each other

It seems like the argument started when SkyArk Chronicles posted on social media, but then deleted it. They were really happy about Binance Labs joining in on the funding. The post also said that 40 other groups helped, like Darryl Wang from Tangent Ventures and Bryan Pellegrino from LayerZero.

SkyArk Chronicles has said sorry for the misunderstanding and thanked Binance Labs for making things clear. The project team has once again promised to make SkyArk successful.

What the situation means

The recent news about the SkyArk Chronicles funding has made people wonder if the information in the cryptocurrency and blockchain industry is accurate. It’s important to be honest and report facts when important investments and partnerships are involved. This keeps everyone on track and reminds everyone about the importance of being clear and truthful.

Warning: This is not advice on buying or selling stocks.

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