Introducing Crypto Aid Israel: A Humanitarian Initiative Supporting Israeli Citizens
A new humanitarian initiative called Crypto Aid Israel has been launched by members of Israel’s crypto communities. The primary objective of this organization is to provide financial assistance to Israeli citizens affected by the ongoing conflict with Hamas. To facilitate donations, Crypto Aid Israel has set up a multi-signature wallet that accepts various cryptocurrencies, including Bitcoin (BTC), Ether (ETH), and Tether (USDT – ERC20), with plans to support more cryptocurrencies in the future.
Israeli Financial Institutions Show Support for Crypto-Based Humanitarian Efforts
According to a report by CoinDesk, Israeli financial institutions and regulatory bodies are actively supporting the crypto-based humanitarian effort led by Crypto Aid Israel. This marks the first time that these banks are likely to act as intermediaries, enabling the transfer of cryptocurrency donations into their systems.
Fireblocks Joins the Initiative as Asset Manager
Fireblocks, a company specializing in secure crypto asset storage, has joined forces with Crypto Aid Israel. They will be responsible for managing the donated cryptocurrencies. To ensure secure fund transfers, Crypto Aid Israel has implemented a stringent policy requiring approval from at least four out of seven authorized signatories to move assets out of the multi-signature wallet.
Alliance Grows with Key Members
The alliance supporting Crypto Aid Israel has already attracted notable members such as MarketAcross, Collider Ventures, CryptoJungle, and the Israel Blockchain Association. CEO of CryptoJungle, Ben Samocha, emphasized that their primary goal is to raise sufficient funds for providing food and shelter to families who have lost their homes due to the conflict. Additionally, they aim to supply essential hygiene and medical products to Israeli civilians impacted by Hamas attacks while raising awareness about their current challenges.
Hot Take: Crypto Aid Israel Supports Israeli Citizens Affected by Conflict
Crypto Aid Israel, a new humanitarian initiative supported by various crypto communities, has been established to provide financial assistance to Israeli citizens impacted by the ongoing conflict with Hamas. With the participation of Israeli financial institutions and regulatory bodies, this effort aims to transfer cryptocurrency donations securely into their systems. Fireblocks has joined as the asset manager, ensuring the safe management of donated cryptocurrencies. The alliance is determined to gather funds for families in need while supplying essential products and raising awareness about the challenges faced by affected Israeli civilians. Crypto Aid Israel demonstrates the power of crypto communities coming together for a greater cause.
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