Israeli cryptocurrency companies have come together to launch Crypto Aid Israel, a joint humanitarian fund aimed at providing assistance to citizens affected by the conflict between Israel and Hamas. This initiative is led by a group of Israeli crypto firms, including Fireblocks, 42Studio, MarketAcross, Collider Ventures, CryptoJungle, Nilos, BlockchainB7, Efficient Frontier, Ironblocks Israel Blockchain Association, and Bits Of Gold. The fund will accept donations in cryptocurrencies such as Bitcoin (BTC), Ethereum (ETH), Tether (USDT), and USD Coin (USDC).
Crypto Aid Israel will be managed and raised through the New York-based digital asset repository Fireblocks. Any approvals for fund usage will be organized through a multi-signature transaction, requiring the consent of at least four of the fund’s signatories.
Israeli Crypto Firms Unite for Humanitarian Cause
The primary objective of this fund is to raise the necessary resources to provide food, shelter, hygiene items, and medical supplies to Israeli civilians who have been affected by the conflict with Hamas. This initiative underscores the role of cryptocurrency in providing rapid and transparent assistance during times of crisis.
It’s worth noting that the conflict with Hamas has attracted international attention and regulatory responses, impacting various aspects of the cryptocurrency industry in the region.