Charity campaign Crypto Aid Israel launches fundraising effort following Hamas attacks
The charity campaign seeks to raise donations in the wake of the Hamas attacks
faridan hadi rukmana/Shutterstock modified by Blockworks
Crypto Aid Israel, a humanitarian fundraising effort, is seeking crypto donations for Israeli citizens following this weekend’s attacks by the Islamic militant group Hamas.
The campaign’s goal is to help “displaced citizens in need of humanitarian aid.” This includes raising money to provide food, shelter, hygiene and medical products to impacted citizens.
The charity campaign, spearheaded by a group of Israeli blockchain firms, launched Monday. Firms including MarketAcross, CryptoJungle, Blockchain B7, Efficient Frontier, and Fireblocks, among others, have signed on to the initiative.
A multi-signature wallet will be hosted by Crypto Aid Israel to collect donations, which can be made with bitcoin (BTC), ether (ETH), USDT, USDC, and others.
“With regard to management of the crypto assets, Crypto Aid Israel has graciously accepted the help of Fireblocks,” a press release accompanying the announcement said. For safety reasons, four out of seven signatures will be required in order to move funds out of the wallet.
CBS News reports that nearly 1,300 Israelis and Palestinians have died since hostilities began this weekend.
Over the weekend, Israel declared war against Hamas, which controls the Gaza Strip. The Gaza Strip is home to more than 2 million Palestinians and has been the target of an Israeli economic and military blockade since 2007. Hamas has been designated as a terrorist group by the US government.
The war declaration came after Hamas launched a multi-prong assault on Israel on Saturday, the latest outbreak of violence in a decades-old conflict.
Palestinian support groups have also sought to use crypto to fundraise, including the United Nations Relief and Works Agency for Palestine Refugees (UNRWA). The UNRWA partnered with The Giving Block, a crypto donation platform, in 2021.
In recent years, crypto has emerged as a vehicle for humanitarian fundraising and financial resources in conflict areas. Tens of millions of dollars worth of crypto were raised to support the Ukrainian government following Russia’s invasion in early 2022.
Get the news in your inbox. Explore Blockworks newsletters:
- The Breakdown: Decoding crypto and the markets. Daily.
- Empire: Crypto news and analysis to start your day.
- Forward Guidance: The intersection of crypto, macro and policy.
- 0xResearch: Alpha directly in your inbox.
- Lightspeed: All things Solana.
- The Drop: Apps, games, memes and more.
- Supply Shock: Bitcoin, bitcoin, bitcoin.
