Blockstack debuts $25 million fund to invest in blockchain apps

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.

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Google donates $800 million in cash and ads to fight coronavirus

Photo: Google

Google CEO Sundar Pichai announced Friday that his company is donating more than $800 million in cash and advertising to help stem the spread of the novel coronavirus and ease the impact on small businesses.

Why it matters: It would appear to be the largest donation yet from a tech giant. The ad credits also could help keep business flowing through Google's ad system amid what is expected to be a sharp downturn in advertising.

U.S. coronavirus cases outpace the globe as new hot spots emerge

Data: The Center for Systems Science and Engineering at Johns Hopkins; Map: Andrew Witherspoon/Axios

A second wave of American cities, including Boston, Detroit, New Orleans and Philadelphia, are seeing increases in confirmed coronavirus cases.

The big picture: The U.S. has the most coronavirus cases in the world, exceeding China and Italy with more than 86,000 infections and over 1,200 deaths, per data from Johns Hopkins.

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