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Crypto enthusiasts are unrolled with the latest fact, as Binance Labs denies funding $15 million to SkyArk Chronicles. And this news brought in new twists and turns in the crypto world. The news erupted controversies and questioned the transparency around the crypto and blockchain industries.
Binance Labs opened-up on Twitter!
The truth is unfolded as the Binance Labs took to their twitter handle which stated, 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.
The factual notion!
On January 12, 2024 SkyArk Chronicles, a self proclaimed AAA gaming platform, claimed to have received an immense amount of $15 million from the pivotal investment firm, Binance Labs. This however sprouted attention towards the firms from some of the notable investors like Binance Labs. Nevertheless this excitement only lasted for sometime as Binance Labs unfolded on twitter and raised questions towards SkyArk Chronicles’ accuracy and ethics.
Questions rain for clarity!
The captivating statement did not end here. But ignited a bunch of valid questions in the crypto industry by the key enthusiasts who asked for better clarity over the same. On the contrary, Binance Labs however made it a point to discuss its past funding prospects with SkyArk Chronicles that happened back in 2021 in incubation and investment.
A hassle for future funding prospects?
Now that the active investors and crypto fanatics have raised questions for clarity. It is understood how keenly the crypto industry watches the moves. This can certainly bring dynamism in the future collaborations of Web3 investors and startups.