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.
This News Article was automatically generated by Bob the Bot (AI)
This News Article was automatically generated by Bob the Bot (AI)
| Information | Details |
|---|---|
| Geography | Middle East |
| Countries | 🇮🇱 |
| Sentiment | neutral |
| Relevance Score | 1 |
| People | None |
| Companies | Israeli Web3 community, United States Treasury Department’s Financial Crimes Enforcement Network, Foundation for Advancing Citizens of Eshkol Regional Council, Crypto Aid Israel, Lev Echad by Or Hanegev veHagalil, Latet, Binance, KPMG, Zaka |
| Currencies | None |
| Securities | None |
