Crypto Aid Israel Raises Over $185,000 in Two Weeks to Support Humanitarian Efforts

The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
This summary text is fully AI-generated and may therefore contain errors or be incomplete.

The Crypto Aid Israel collective has raised over $185,000 in less than two weeks and has already distributed aid to various humanitarian groups. The organization has conducted two rounds of aid distribution, providing around $50,000 to NGOs such as the Foundation for Advancing Citizens of Eshkol Regional Council and Zaka. These funds have been used for transportation, shelter, medical equipment, and protective gear for workers on the front lines. Additionally, funds have been allocated to organizations like Lev Echad by Or Hanegev veHagalil and Latet, which are providing food, hygiene products, and clothes to residents in areas adjacent to Gaza. The initiative was led by the Israeli Web3 community, with support from companies like KPMG, Zengo, Fuse, Wonderland, and Psagot Equity. However, there are concerns about the use of crypto for terrorism, leading to actions such as Binance freezing wallets linked to Hamas and the US Treasury Department sanctioning a crypto operator in Gaza with ties to Hamas. The department has also proposed a rule to designate cryptocurrency mixing as an area of “primary money laundering concern.” In response, over 100 US lawmakers have sent a letter to the Treasury Department inquiring about the use of crypto in financing terrorism.

Notifications 0