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.
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.
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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
- Crypto Aid Israel Official Website
- KPMG’s Involvement in Philanthropy
- Overview of Web3 Technology
- Latest News on Hamas Attacks
- Foundation for Advancing Citizens of Eshkol Regional Council
- Zaka’s Humanitarian Efforts
- Lev Echad by Or Hanegev veHagalil
- Latet’s Relief Programs
- Cybersecurity Challenges in Crypto Fundraising
- Zengo, Fuse, Wonderland, and Psagot Equity Companies