ISRAEL AT WARCrypto Aid Israel raises over $185,000 to support Israel amid Gaza War
ISRAEL AT WAR
Crypto Aid Israel raises over $185,000 to support Israel amid Gaza War
The cryptocurrency collected was converted into shekels through a financial route established in collaboration with local banks
Crypto Aid Israel, a collective of local leaders in the crypto space, has raised over $185,000 (approximately NIS 700,000) to support Israelis affected by the ongoing wave of Hamas terrorism.
Furthermore, over 30 companies have rallied to support the cause, with notable participation from accounting giant KPMG who is providing assistance with fundraising and distributions. Other major companies contributing to the campaign via awareness or financial contributions include crypto wallet provider Zengo, Fuse, Wonderland, Psagot Equity and many more.
According to Ben Samocha, CEO and founder of CryptoJungle, the cryptocurrency collected was converted into shekels through a financial route established in collaboration with local banks and firms, such as Bits of Gold, Nilos, KPMG, Fireblocks, Psagot Equity, and others.
“We conducted consultations and discussions with the relevant authorities and ensured that we adhere to the necessary rules and laws,” explained Samocha. “The banks we communicated with have shown openness to finding a mutually agreeable solution while prioritizing their risk management. They have been attentive to our needs and have assisted in finding a solution.”
Crypto Aid said that two rounds of aid distribution, totaling around $50,000, have already been completed. The NGOs who have already received funding include: Foundation for Advancing Citizens of Eshkol Regional Council, Zaka, Lev Echad by Or Hanegev veHagalil, and Latet.
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“We believe that while modest initially, the crypto channel is an important, speedy and innovative one and will enable new contributors to join our global ecosystem and support Israel in such an important hour,“ added Crypto and New Digital Initiatives advisor to Latet’s board, Eyal Gura.
Crypto Aid Israel comprises organizations such as 42Studio, MarketAcross, Collider Ventures, CryptoJungle, Nilos, BlockchainB7, Efficient Frontier, Ironblocks, Israel Blockchain Association, Bits Of Gold and KPMG.
