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Crypto Firms Rally to Create Aid Fund for Israel War Victims: Fireblocks, MarketAcross Take Lead

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Oct 11, 2023 at 10:00 am

In a heartening demonstration of solidarity, Crypto Aid Israel has emerged as a beacon of hope for Israeli citizens contending with the repercussions of the ongoing conflict with Hamas. Led by the Israeli crypto and web3 communities, this initiative is committed to providing essential aid. Through the management of a multi-signature wallet, collectively supervised by various stakeholders, Crypto Aid Israel facilitates contributions in a wide range of cryptocurrencies, including bitcoin (BTC), ether (ETH), and stablecoins like USDT and USDC, as detailed in the official announcement.

Notably, several Israeli banks and regulatory authorities have taken proactive steps to streamline the process of receiving crypto donations. There is an expectation that these institutions will play a crucial role in the smooth transfer of crypto assets, marking a significant milestone in their integration with digital currencies.

Fireblocks, a specialized company renowned for its proficiency in crypto custody, has taken on the vital responsibility of overseeing these crypto assets, as emphasized in the official statement. Upholding a stringent policy, Crypto Aid Israel requires that a minimum of four out of seven designated signatories must authorize fund transfers from the wallet, ensuring the utmost levels of transparency and accountability.

This collaborative effort brings together influential organizations such as Fireblocks, in partnership with MarketAcross, Collider Ventures, CryptoJungle, and the Israel Blockchain Association. Their mission extends beyond providing shelter and sustenance for families grappling with the loss of their homes. They are also dedicated to providing essential hygiene and medical resources to the affected Israeli population while tirelessly working to raise global awareness about the formidable challenges faced by the people of Israel during these challenging times.

Since the onset of the conflict this past Saturday, the toll has been devastating, with over 800 Israelis tragically lost and more than 2,600 individuals sustaining injuries. Shockingly, over 100 individuals have been taken captive into Gaza, further underscoring the urgent need for support and relief efforts.

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