Charity campaign Crypto Aid Israel distributes funds to four organizations

The charity campaign, launched earlier this month, has already raised $185,000 since launch

article-image

Pisit.Sj/Shutterstock modified by Blockworks

share

Crypto Aid Israel has raised over $185,000 since launching on October 9.

The aid effort announced that it received support from firms such as KPMG, Zengo, Wonderland and Psagot Equity. 

According to a press release, KPMG is “providing assistance with fundraising and distributions.”

A portion of the funds were distributed to four organizations — Zaka, Foundation for Advancing Citizens of Eshkol Regional Council, Lev Echad by Or Hanegev veHagalil, and Latet. 

The organizations provide a variety of services from medical equipment to hygiene and food provisions. 

Some funding also supported the “transportation and shelter needs of citizens who, despite residing in areas close to Gaza, are not officially recognized as such by the Israeli government. This assistance enables impacted individuals to seek safety and refuge.”

Crypto Aid Israel was started by a group of Israeli blockchain firms including MarketAcross, CryptoJungle, Blockchain B7 and Fireblocks.

The charity campaign is hosting a multi-sig wallet to collect donations, which can be made with bitcoin (BTC), ether (ETH), USDT, USDC, among others. In order to move funds, four signatures — out of seven — are required. 

The Hamas-Israel conflict started earlier this month after Hamas launched a surprise attack that ended in the deaths and kidnappings of Israeli citizens. Israeli airstrikes on Gaza following the attack led to the deaths of over 2,700 Palestinians. Roughly 1,400 Israeli citizens have been killed according to reporting from the Associated Press.

In 2021, the United Nations Relief and Works Agency for Palestine Refugees (UNRWA) partnered with the Giving Block to fundraise crypto for humanitarian efforts. 

Following the October attack, lawmakers in Washington DC penned a letter to the White House’s National Security advisor, Jake Sullivan, concerning the potential use of crypto as a fundraising tool for Hamas. 

The letter was based on a Wall Street Journal report from earlier this month, claiming that Hamas raised roughly $130 million worth of crypto between August 2021 and June 2023.

However, Blockworks previously reported that, while terrorist organizations such as Hamas use crypto to fundraise, the efforts to raise through crypto are generally called off due to the cooperation of major exchanges such as Binance and the public nature of blockchain.

Law enforcement tends to be successful in not only detecting but seizing or freezing the funds.


Get the news in your inbox. Explore Blockworks newsletters:

Tags

Decoding crypto and the markets. Daily, with Byron Gilliam.

Upcoming Events

Old Billingsgate

Mon - Wed, October 13 - 15, 2025

Blockworks’ Digital Asset Summit (DAS) will feature conversations between the builders, allocators, and legislators who will shape the trajectory of the digital asset ecosystem in the US and abroad.

Industry City | Brooklyn, NY

TUES - THURS, JUNE 24 - 26, 2025

Permissionless IV serves as the definitive gathering for crypto’s technical founders, developers, and builders to come together and create the future.If you’re ready to shape the future of crypto, Permissionless IV is where it happens.

Brooklyn, NY

SUN - MON, JUN. 22 - 23, 2025

Blockworks and Cracked Labs are teaming up for the third installment of the Permissionless Hackathon, happening June 22–23, 2025 in Brooklyn, NY. This is a 36-hour IRL builder sprint where developers, designers, and creatives ship real projects solving real problems across […]

recent research

Research Report Templates (19).png

Research

Suilend has grown into the top money market and liquid staking provider on Sui. STEAMM, Suilend’s Superfluid AMM, presents a compelling avenue for growing market share within Sui’s DEX landscape and revenue generation for the protocol. Suilend’s multi-product suite position it well for owning market share across key verticals. While current metrics across the Sui ecosystem are likely inflated due to Sui Foundation incentive programs, SEND trades at amongst the lowest multiples in the lend/borrow sector, suggesting that a bull case for continued growth in the ecosystem may be mispriced.

article-image

A Blockworks Research report looked at who could take up some of the marketshare in the launchpad space

article-image

Business-to-business stablecoin payments are on the rise, per a report from Artemis, Dragonfly and Castle Island

article-image

Crypto continues to do its thing: incentivizing behavior

article-image

Kraken will soon offer Backed ‘xStocks’ as Solana tokens

article-image

In a unanimous decision, the US Court of International Trade has ruled that Trump’s IEEPA tariffs are unlawful

article-image

The platform has over $22 million in assets and allows anyone to invest in tokenized real estate