Facebook GlobalCoin Set for June Reveal; Binance Labs Unveils 13 Stealth Incubatees

The top daily news from the cryptocurrency and blockchain space:

  • Facebook is reportedly launching its GlobalCoin cryptocurrency this month.
  • The second wave of Binance Labs Incubator Program projects revealed.
  • Former Mt. Gox chief executive Mark Karpeles joins Japanese blockchain startup.

At the time of writing, bitcoin (BTC) and ether (ETH) are trading at $7,806.2 (+0.6%) and $245.4 (+1.2%), respectively. As for the MVIS CryptoCompare Digital Assets 10 Index, it is currently tracking at 3,833.8 (+0.6%).

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Facebook A Few Weeks Off GlobalCoin Cryptocurrency Unveil

Within the next few weeks, Facebook’s cryptocurrency will be released to the public. Indeed, according to The Information, “the digital token, which Facebook is expected to unveil later this month, is designed to function as a borderless currency without transaction fees and will be aggressively marketed in developing nations where government-backed currencies are more volatile.”

Reportedly, the social media giant is planning to install physicaly portals for people to buy the cryptocurrency – which, according to previous coverage, is called GlobalCoin. The Information went onto write Facebook is inviting external parties to participate in the network; essentially functioning as a fee-generating node that helps maintain the security of the network GlobalCoin is inherent to.

Binance Labs Launches 13 More From Stealth

Binance Labs announced the thirteen newest projects to graduate from its Binance Labs Incubation Program. Among the focuses of the geographically diverse startups were crypto security solutions, blockchain data, decentralized oracles, and philanthropy.

The venture arm of Binance launched its Binance Labs Incubation Program in October 2018. Out of over five hundred project applicants, only eight were selected for what was its inaugural chapter of incubatees.

The thirteen Binance Labs graduates will demonstrate their blockchain-enabled solutions at an invite-only pitch event in San Francisco on June 7. Binance Labs added in yesterday’s blog post that applications for its third wave of incubatees will open soon, ahead of an October launch.

Mark Karpeles Returns to Japan Blockchain Scene

Former Mt. Gox chief executive Mark Karpeles has become chief technology officer at a new Japan-registered blockchain technology startup called Tristan Technologies Co. Per local media outlet The Mainichi, the company “aims to create a new, secure operating system that is much faster than those currently in use,” Karpeles explained during a June 5 press conference at the Foreign Correspondents’ Club of Japan.

Earlier this year, the 34-year-old Karpeles was cleared of embezzlement and fraud allegations related to the bankrupt cryptocurrency exchange Mt. Gox. After being arrested by Japanese authorities in 2015, Karpeles spent eleven months in detention - eventually receiving a suspended sentence. He is currently appealing his remaining conviction for tampering electronic data. The verdict is expected to be handed down later this year.