2023-10-11 14:09:10
The outbreak of the Israel-Hamas war has prompted several crypto companies, including MarketAcross, Collider Ventures, and the Israel Blockchain Association, to create a global fundraiser called Crypto Aid Israel. The purpose of the established organization is to support displaced Israeli citizens in need of humanitarian assistance. The Web3 community maintains a multi-wallet managed by several organizations, including the preservation company Fireblocks. Donations are accepted in several cryptocurrencies, including Bitcoin, Ethereum, and stablecoins. For added security, at least four of the seven signatories are required to move funds. The donations will be managed with the help of several Israeli banks and regulatory authorities. The funds will be donated to Israeli non-profit organizations who will distribute the donations to the refugee families. The organization said they are in contact with several Israeli government agencies interested in disbursing the funds. Thousands of Israeli lives have been destroyed by Hamas ???? Israel WILL prevail ????, but we need your help! Send your crypto to help the victims who need it most.Crypto unites with Israel ???????? pic.twitter.com/wH8KhYSABI — CryptoAidIsrael (@CryptoAidIsrael) October 9, 2023 Crypto support during war On Saturday, the Islamist militant group Hamas launched a surprise attack launched once morest Israel, targeting many civilian areas as well. Hamas militants have reportedly kidnapped hundreds of Israeli citizens in Gaza. According to a recent Haaretz report, at least 900 Israelis lost their lives and more than 2,500 were wounded as a result of the attack. “We hope to be able to collect the necessary amount so that we can provide food and accommodation to the families who lost their homes. We hope to be able to provide hygiene and health products to the bombed Israeli civilian population,” said Ben Samocha, CEO of CryptoJungle. This is not the first time that crypto companies have teamed up with the local community and institutions. Back in early 2022, Ukrainian officials partnered with crypto companies to create wallets where donations might be sent. Thanks to the initiative, nearly $100 million was donated to Ukrainian military forces and humanitarian aid in the first months of the outbreak. This amount has increased to $225 million since the start of the war. You can view the community initiative by clicking on the link.
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