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ConsenSys, a company that develops apps and tools based on Ethereum, has launched a $50 million venture capital fund that will provide pre-seed and seed capital to blockchain technology startups. It will be led by Kavita Gupta, while ConsenSys founder Joe Lubin (also co-founder of Ethereum) also will be involved.

Gupta, who most recently worked on mission investing for Eric Schmidt's family foundation, tells Axios that she doesn't believe the advent of ICOs should result in the depreciation of traditional venture capital:

There is still value to due diligence and even if two PhD kids have sold tokens based on a brilliant white paper, they still have to figure out how to deliver a company. That's not necessarily something they have experience doing."

ConsenSys Ventures — which has not taken outside capital — will back startups that both do and don't plan to eventually offer digital tokens. It hasn't closed any deals yet, but does have three term sheets out.

Go deeper

Latino mental health crisis grows

Shoshana Gordon/Axios

Over 40% of Latino adults have reported symptoms of depression during the pandemic, in contrast to 25% of white non-Hispanics, the CDC reports.

Why it matters: The emotional distress is especially acute for Latinos who had COVID-19, some of them tell Noticias Telemundo.

Misinformation is just one part of a vaccine trust problem

Illustration: Sarah Grillo/Axios

COVID-19 is the first major pandemic in the social media era — offering experts a rare opening to study the relationship between online misinformation and human behavior on a large scale.

Why it matters: As misinformation about COVID-19 vaccines runs rampant, researchers are trying to measure how much memes and messages with false information can alter someone's decision to get vaccinated.

2 hours ago - World

Israel's "change bloc" collapses, leaving Netanyahu in charge

Bennett (L) with Netanyahu in 2015. Photo: Gali Tibbon/AFP via Getty Images

In a dramatic shift that comes amid fighting in the Gaza strip and clashes between Jewish and Arab citizens in Israel, right-wing kingmaker Naftali Bennett has announced he will no longer seek an alternative government to oust Prime Minister Benjamin Netanyahu.

Why it matters: Bennett had been on the verge of a power-sharing deal with centrist opposition leader Yair Lapid that would have made him prime minister for two years until Lapid rotated into the job. Without Bennett, Lapid has no path to a majority, and Israel will almost certainly head for its fifth election since 2019 with Netanyahu still in his post.