Binance is not going to support Axie Infinity game

The largest cryptocurrency exchange Binance will no longer invest in the popular blockchain game Axie Infinity and its developer Sky Mavis. Earlier in April, the exchange’s CEO Changpeng Zhao promised to provide $ 150 million to restore the Ronin bridge, which lost about $ 625 million as a result of the hack.

According to Binance representatives, Sky Mavis can now cover these losses.

«Sky Mavis was able to resolve the situation and return the funds. Sky Mavis is now able to compensate users without significant investment from Binance. Binance will no longer be a leading investor in Sky Mavis. However, Binance will continue to support Sky Mavis.»

Ronin was relaunched on June 28, and the stolen funds were returned to all users before the launch.

Last week, it was also reported that the chain of events that led to the hack began with a phishing message to one of Sky Mavis' employees.