Skip to main content

Israeli Crypto-Based Aid Organization Says Nearly $200,000 Raised for October 7 Terror Victims

Israeli Crypto-Based Aid Organization Says Nearly $200,000 Raised for October 7 Terror Victims

Nearly $200,000 has been raised by a non-profit organization launched by members of Israel’s Web3 community. More than 30 Web3 companies have since joined the campaign while the accounting firm KPMG is said to be assisting with fundraising and distribution.

Web3 Companies Join Campaign

Crypto Aid Israel, a non-profit organization launched by influential leaders within the Israeli Web3 community, said nearly $200,000 has been raised as part of the Emergency Relief Initiative. Some of the funds raised have been distributed to organizations leading relief efforts for victims of the Oct. 7 attacks by Hamas.

According to a statement issued by the aid organization, more than 30 Web3 companies have joined the campaign. The accounting firm KMPG is said to be assisting with fundraising and distribution of the funds. The other companies contributing to the campaign include crypto wallet provider Zengo, Fuse, Wonderland and Psagot Equity.

Commenting on his organization’s achievement, Tim Freed, a senior leader within Crypto Aid Israel, said:

We are deeply humbled by the outpouring of support from the global crypto community. Together, we have made significant strides in our mission to assist those affected by the recent wave of Hamas terrorism. The completion of two rounds of aid distribution shows how crypto can be used as a force of good in the world.

Freed added that Crypto Aid Israel remains committed to transparency and is still determined to continue with its objective of assisting those directly affected by the Hamas attacks. Some of the non-government organizations that have already funding from Crypto Aid Israel include the Foundation for Advancing Citizens of Eshkol Regional Council, Zaka, Lev Echad by Or Hanegev veHagalil and Latet.

Although Crypto Aid Israel has committed itself to helping victims of the terror attacks, the organization’s platform has suffered serious phishing attacks. However, according to the statement, after the attackers briefly took the aid organization’s website this interruption was promptly addressed by Crypto Aid Israel’s hosting provider.

What are your thoughts on this story? Let us know what you think in the comments section below.



from Bitcoin News https://ift.tt/g8ZGeX5
Labels:

Comments

Post a Comment

Popular posts from this blog

Mt Gox Creditors Updated, Trustee Says Rehabilitation Custodian Is ‘Currently Preparing to Make Repayments’

On August 31, 2022, the Mt Gox trustee Nobuaki Kobayashi explained in a recent letter that the rehabilitation custodian is “currently preparing to make repayments” to Mt Gox creditors. Trustee Updates Mt Gox Creditors — Repayment Date and Exchange Still Unknown Last week speculation and rumors concerning the release of 140K bitcoin ( BTC ) from Mt Gox littered social media platforms and headlines. Bitcoin.com News covered the situation six days ago as a number of people and Mt Gox creditors called the rumors “ fake news .” During that same period of time, a bitcoin whale transferred 10,000 BTC to unknown wallets, and a 2018 annotation , heuristics, and clustering methods show the funds likely originated from the June 2011 Mt Gox hacks. Following the mysterious whale transfer, last Wednesday, Mt Gox published an official update from the court trustee Nobuaki Kobayashi that explains the court is “currently preparing to make repayments” to creditors. Mt Gox creditors have been wait...
Post a Comment
Read more

Fidelity Discusses Bitcoin as Portfolio Insurance — Could Soon Stand in ‘Stark Contrast’ to Path Fiat Currencies Take

Fidelity Digital Assets, a subsidiary of Fidelity Investments, says that bitcoin could be considered portfolio insurance. The firm notes that the cryptocurrency “may soon stand in stark contrast to the path that the rest of the world and fiat currencies may take — namely the path of increased supply, additional currency creation, and central bank balance sheet expansion.” Fidelity Says Bitcoin Could Be Portfolio Insurance Fidelity Digital Assets, a subsidiary of Fidelity Investments, recently published a research study titled “The Rising Dollar and Bitcoin.” The research outlines “how bitcoin could be considered portfolio insurance” as the rising dollar impacts global currency markets. “The strengthening U.S. dollar is wreaking havoc among other countries and may put pressure on the Federal Reserve to soon reverse its tightening monetary actions, something that has precedent based on 1985’s Plaza Accord,” Fidelity explained. In addition, “more monetary debasement may be needed to ...
Post a Comment
Read more

Economists Discuss Russia, China Potentially Developing Gold-Backed Currency That Could Undermine US Dollar

Economists have weighed in on reports that China and Russia may be developing a new gold-backed currency that could undermine the U.S. dollar’s status as the world’s primary reserve currency. Russia and China May Be Developing Gold-Backed Currency Several experts have shared their views on Russia and China potentially creating a new gold-baked currency, Fox Business reported Saturday, emphasizing that China has been buying up huge quantities of gold while Russia was forced off the U.S. dollar due to sanctions imposed on the country following its invasion of Ukraine. The news outlet noted that some experts have cautioned that these moves, along with the closer relationship that has developed between Moscow and Beijing, point to the likelihood of China attempting to launch a gold-backed currency. However, neither Russia nor China has officially confirmed plans for such a currency. Craig Singleton, senior fellow at the Foundation for Defense of Democracies and a former U.S. diplomat,...
Post a Comment
Read more