Crypto security specialist firm Fireblocks will lead the initiative and has stepped in to manage crypto assets.
On Monday, October 9, Israel’s cryptocurrency and Web3 community announced that they have founded Crypto Aid Israel to raise funds for Israeli citizens. This new fundraiser seeks to help all displaced people with the goal of providing humanitarian assistance amid the outbreak of war with Hamas.
The organization is set to set up a multi-signature wallet, jointly controlled by different stakeholders, to collect contributions in a variety of cryptocurrencies. This includes cryptos like Bitcoin (B T c), Ethereum (ETH), and dollar-pegged stablecoins like USDT and USDC.
As noted in a press release from Crypto Aid Israel, the initiative has received support from several Israeli banks and regulatory bodies. Interestingly, these banks will facilitate the transfer of these crypto donations to the traditional banking system for the first time.
The move highlights Israel’s visionary stance towards the crypto sector. It also shows the country’s readiness to adopt digital currencies for philanthropic purposes. With the growing popularity of the “Crypto Aid Israel” initiative, it has the potential to serve as a source of inspiration, encouraging comparable efforts not only within Israel but globally.
Fireblocks leads crypto aid Israel initiative
Crypto safekeeping specialist firm Fireblocks will lead the initiative and has stepped in to manage crypto assets. In the press release, Crypto Aid Israel said:
“A strict policy has been implemented that requires at least four of the seven signatories to withdraw funds from the wallet”.
The alliance currently consists of several members, including notable entities such as Fireblocks, MarketAcross, Collider Ventures, CryptoJungle, and the Israel Blockchain Association. Ben Samocha, CEO of CryptoJungle Said,
“We hope to raise the money needed to provide food and shelter to families who have lost their homes. We are also hoping to provide hygiene and medical products to the Israeli civilian population affected by the bombing and raise awareness of the horrors the Israeli people are facing right now.
In times of war, cryptocurrencies have come to the aid of the victims. In March 2022, during Russia’s invasion of Ukraine, many Ukrainians raised millions of dollars in crypto aid to help survivors.

Bhushan is a fintech enthusiast and has a good grasp of understanding the financial markets. His interest in economics and finance drew his attention to the newly emerging blockchain technology and cryptocurrency markets. He is in a constant process of learning and keeps himself motivated by sharing his acquired knowledge. In his spare time he reads adventure fantasy novels and occasionally explores his culinary skills.
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