Israel's Crypto Community Rallies in Humanitarian Effort amid Gaza War

<p>In response to the ongoing war with Hamas, Israeli
crypto and web3 communities have joined forces for a humanitarian initiative to
raise funds to support Israeli citizens affected by the conflict.</p><p>Dubbed Crypto Aid Israel, this initiative involves a
multi-signature wallet that is jointly controlled by various parties, Coindesk
reported. The platform receives donations denominated in multiple
cryptocurrencies, such as Bitcoin, Ether, and dollar-pegged stablecoins, like
USDT and USDC. </p><p>Remarkably, Israeli banks and regulators have
stepped up to facilitate the flow of crypto donations. These financial
institutions will serve as a bridge to move crypto assets to banks, increasing
the efficiency of this humanitarian endeavor.</p><p>Fireblocks Takes the
Lead </p><p>To ensure the security and management of these
crypto assets, Fireblocks, a crypto custody firm, has taken charge. Crypto Aid
Israel has implemented a policy requiring at least four out of seven
signatories to approve the movement of funds from the wallet, thus ensuring
transparency and accountability.</p><p>The collaborative effort includes other key players
in the crypto community, such as MarketAcross, along with Collider Ventures,
CryptoJungle, and the Israel <a href="https://www.financemagnates.com/terms/b/blockchain/">Blockchain</a> Association.</p><blockquote><p lang="en" dir="ltr">Dear <a href="https://twitter.com/hashtag/Web3?src=hash&amp;ref_src=twsrc%5Etfw">#Web3</a> frens of Israel,We are thrilled to announce the unanimous decision of our Finance Committee regarding the distribution of the first tranche of funds.