Binance Labs Clarifies Non-Involvement in SkyArk Chronicles’ Investment Round
Binance Labs, a major player in blockchain and cryptocurrency investments, has addressed the controversy surrounding its alleged participation in a funding round for SkyArk Chronicles. The project, developed by SkyArk Studios, recently announced a $15 million investment round led by Binance Labs, causing confusion.
Unawareness of Investment Guarantee
Prior to the announcement, Binance Labs claims that they were unaware of the investment guarantee made by SkyArk Chronicles. This lack of prior contact violated the standard protocol that requires projects to inform Binance Labs before publicly disclosing investment details.
Immediate Action Taken
After the news broke, Binance Labs contacted the SkyArk Chronicles team and demanded that any mention of Binance or Binance Labs be removed from their communication. However, the project only deleted the tweet without providing an explanation.
Focus on Product Development
Binance Labs emphasizes its commitment to supporting projects in their portfolio and promoting product development over speculative misunderstandings about funding. This incident highlights the importance of transparent and truthful communication in the blockchain and cryptocurrency industry.
Hot Take: Accurate Communication is Crucial for Blockchain Investments
Binance Labs’ clarification regarding its non-involvement in SkyArk Chronicles’ investment round underscores the significance of factual accuracy and transparent communication in blockchain project investments. It serves as a reminder to all stakeholders in the industry to adhere to established protocols and maintain open lines of communication when making public statements about investments and funding.
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