Local Web3 community launch an aid fund in response to the Israel War

Crypto firms FireBlocks, MarketAcross, 42Studio, Collider Ventures, and Crypto Jungle, have joined forces to initiate a aid campaign called in response to the current war between Israel and Hamas.
Local Web3 community launch an aid fund in response to the Israel War
Local Web3 community launch an aid fund in response to the Israel War

In reaction to the ongoing conflict between Israel and Hamas, many cryptocurrency companies, including FireBlocks, MarketAcross, 42Studio, Collider Ventures, and Crypto Jungle, have teamed up to launch a humanitarian aid campaign named “Crypto Aid Israel.”

With this effort, we hope to help Israeli citizens who have been affected by the war and who have been forced to flee their homes.

A report from Crypto Aid Israel claims that the emphasis is on fundraising, and that they are accepting donations in a variety of cryptocurrencies, including Bitcoin, Ethereum, and stablecoins like Tether and USD Coin. Using a multi-signature wallet, which allows many users to jointly control it, we will secure the security of these funds.

A substantial advancement in their involvement with digital assets is being made by Israeli banks and regulatory bodies, which are stepping up to help transfer cryptocurrency donations for the first time. Management of these digital assets has been given to Fireblocks, a business that specializes in protecting bitcoins.

For any fund withdrawals from the wallet, the initiative has established tight standards that call for at least four out of seven authorized signatures. Ben Samocha, CEO of CryptoJungle, emphasized that the main goal of Crypto Aid Israel is to gather crucial cash to provide Israeli families who have lost their houses with needs such as food, shelter, hygiene products, and medical supplies.

As he said:

We intend to raise the money required to give those who lost their houses food and shelter. Along with raising awareness of the horrors the Israeli people are currently experiencing, we also hope to deliver sanitary and medical supplies to the civilian Israeli population that is being bombarded.

Over 800 Israelis have died, over 2,600 have been injured, and 100 have been transported into Gaza since the conflict began on October 7, 2023, leaving a significant death toll.

In order to support individuals impacted by this awful disaster, Crypto Aid Israel works to bring together the global cryptocurrency and Web3 communities.

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