Binance Labs Denies SkyArk Chronicles’ Funding Claims

Skyark and Binance Lab's banners stamped "Fake News"

 SkyArk Chronicles, a Triple-A gaming platform, recently claimed that it had completed a $15 million funding round led by Binance Labs. However, Binance Labs has since denied these claims, stating that it did not participate in the latest round of financing. The tweet announcing the funding round has been deleted.

The SkyArk Chronicles Claim

SkyArk Chronicles, a Triple-A gaming platform, recently claimed that it had completed a $15 million funding round led by Binance Labs. However, Binance Labs has since denied these claims. In an X post refuting the claims, Binance Lab wrote:

“SkyArk Chronicles is a project incubated and invested in by Binance Labs in 2021 through Incubation Season 3; please note that Binance Labs did not participate in the project’s latest financing round this year. Thank you all for your attention.”

Screenshot of SkyArk Chronicles announcement

Reactions of Investors

On January 26, SkyArk Chronicles launched a Genesis NFT sale, raising more than 50,000 ETH. However, some users expressed anger with the false financing information in the Discord and even asked the project team for a refund.

In light of these events, it is clear that SkyArk Chronicles’ claims of a $15 million funding round led by Binance Labs were unfounded. Binance Labs has denied any involvement in the funding round, and the tweet announcing the funding round has been deleted. The situation has caused some users to express anger with the project team and even request refunds.

While some accuse Binance Labs of wanting to cause a FUD for a project it supported in the past, others believe that the announcement by Binance Labs is in order and necessary to ensure honesty and transparency among teams behind cryptocurrency and blockchain projects.

Author: Grace

Grace likes gardening. She holds some BTC and ETH.

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