Tuesday, November 28, 2023

An Israeli non-profit group, founded by key figures in the country’s Web3 community, has successfully raised close to $200,000 through an Emergency Relief Initiative. The fundraising drive has seen participation from over 30 companies in the Web3 space, and is reportedly receiving logistical support from the accounting firm KPMG in matters related to fundraising and allocation of the collected funds.

Involvement of Web3 Entities

Crypto Aid Israel, the non-profit at the center of this fundraising effort, confirmed the collection of nearly $200,000 aimed at aiding victims of the attacks carried out by Hamas on October 7. In a formal statement, the organization disclosed that it has collaborated with more than 30 Web3 companies for this initiative. Notably, KPMG is reportedly involved in overseeing the fundraising and the subsequent distribution of the monetary aid. Among the other companies contributing to the cause are crypto wallet provider Zengo, Fuse, Wonderland, and Psagot Equity.

Statements from Leadership

Tim Freed, a senior executive within Crypto Aid Israel, expressed gratitude for the widespread support received from the international cryptocurrency community. He stated that their efforts have notably advanced the organization’s mission to extend help to those affected by the recent spate of violence from Hamas. He highlighted that the successful completion of two cycles of aid distribution exemplifies the positive potential of cryptocurrency in philanthropic endeavors.

Freed further emphasized that Crypto Aid Israel remains steadfast in its commitment to transparency, and is resolute in its mission to continue providing assistance to those directly impacted by the Hamas-initiated attacks. The organization has already channelled some of the funds to various non-governmental organizations, including the Foundation for Advancing Citizens of Eshkol Regional Council, Zaka, Lev Echad by Or Hanegev veHagalil, and Latet.

Security Challenges

While Crypto Aid Israel is fully committed to its philanthropic objectives, it has not been immune to cyber challenges. According to an official statement, the organization experienced a phishing attack that momentarily disrupted its online platform. The issue was swiftly addressed and resolved by the hosting provider of Crypto Aid Israel’s website.

We invite your opinions and thoughts on this matter in the comments section below.

Frequently Asked Questions (FAQs) about Crypto Aid Israel

What is the main objective of Crypto Aid Israel’s fundraising campaign?

The primary objective of the fundraising campaign led by Crypto Aid Israel is to assist the victims of the attacks carried out by Hamas on October 7. The organization aims to provide financial aid to those directly affected by these events.

Who are the major contributors to the Crypto Aid Israel campaign?

Major contributors to the campaign include more than 30 companies operating in the Web3 space. Additionally, the accounting firm KPMG is reported to be aiding in the fundraising and distribution processes. Companies like Zengo, Fuse, Wonderland, and Psagot Equity are also among those contributing.

How much money has been raised so far?

As of the latest update, Crypto Aid Israel has successfully raised close to $200,000 through its Emergency Relief Initiative.

How is the raised money going to be utilized?

The funds raised are intended for distribution to organizations that lead relief efforts for the victims of the October 7 Hamas attacks. Some of the non-government organizations already benefiting from the funds include the Foundation for Advancing Citizens of Eshkol Regional Council, Zaka, Lev Echad by Or Hanegev veHagalil, and Latet.

What role does KPMG play in this initiative?

The accounting firm KPMG is reportedly involved in overseeing the fundraising campaign as well as aiding in the distribution of the collected funds.

Have there been any challenges faced by the organization?

Yes, Crypto Aid Israel experienced a cybersecurity issue in the form of a phishing attack that temporarily disrupted its online platform. However, this issue was promptly addressed and resolved by the organization’s hosting provider.

Is Crypto Aid Israel committed to transparency?

Yes, according to senior executive Tim Freed, Crypto Aid Israel remains committed to maintaining transparency in its operations and is focused on its mission to continue aiding those directly affected by the attacks.

More about Crypto Aid Israel


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Beth.S October 25, 2023 - 8:08 pm

Heartwarming to see so many companies coming together for a cause. But i gotta ask, how are they ensuring the money goes to the right places?

Tech_Guru October 26, 2023 - 12:04 am

Web3 companies stepping up big time. This is the kinda stuff that’ll take blockchain mainstream, not just speculative trading.

JenMills October 26, 2023 - 8:32 am

The fact that they faced a phishing attack is worrying tho. Even charity organizations aren’t safe nowadays it seems. glad they sorted it out quick.

SarahJ October 26, 2023 - 9:07 am

Really surprised to see KPMG in the mix, usually you’d expect them to be more conservative. but hey, good on them for stepping up!

Sammy_Q October 26, 2023 - 9:28 am

I never thought I’d see the day when crypto would be used for something genuinely good. Usually its all abt trading n making money. This is refreshing.

Mike D. October 26, 2023 - 12:35 pm

Wow, close to $200k raised, that’s impressive! Shows the power of crypto in making a real-world impact, doesn’t it? good job folks.

AaronP October 26, 2023 - 6:35 pm

Kudos to Crypto Aid Israel for the transparency. More organizations should learn from them. Keep it up!


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