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BTC Keychain / Flickr CC

Blockstack, which provides a platform for creating blockchain applications, today revealed a $25 million investment fund to back development teams utilizing its technology. This is similar to what we've seen in other industries, by companies like Slack and Twilio.

Why it matters: While values like democracy and decentralization are popular within the digital currency community, Blockstack's fund is a reminder that traditional investors will maintain a funding role within the industry.

The fund: Blockstack's fund will invest in young teams of developers that are building apps using its platform and tools, though Blockstack will merely be making introductions to its partner VCs—it hasn't raised a fund of its own. "It's just a natural extension to take some of the most promising teams that we see" and provide them financial resources to become full-fledged startups, Blockstack co-founder Ryan Shea told Axios.

Five investors will provide the funds: Version One, Lux Capital, OpenOcean, Rising Tide, and Compound.

Go deeper

Updated 2 hours ago - Politics & Policy

Senate pulls all-nighter on amendments to COVID relief package

Photo: Alex Wong/Getty Images

Democratic leaders struck an agreement with Sen. Joe Manchin (D-W.V.) on emergency unemployment insurance late Friday, clearing the way for Senate action on President Biden's $1.9 trillion stimulus package to resume after an hours-long delay.

The state of play: The Senate continued to work through votes on a marathon of amendments overnight into Saturday morning.

The elusive political power of Mexican Americans

Data: Pew Research Center, U.S. Census Bureau; Chart: Michelle McGhee/Axios

Mexican Americans make up the nation's largest Latino group, yet they remain politically outshined by more recently arrived Cuban Americans.

Why it matters: The disparities in political power between Mexican Americans and Cuban Americans reflect the racial, historical, geographical and economic differences within Latino cultures in the U.S.