Crypto Aid Israel, a collective of influential figures in the crypto industry, announced on Thursday that it has raised more than $185,000 to help Israelis affected by the region’s conflict with Hamas.
Funds were distributed among various NGOs to provide immediate relief to those most in need.
More than 30 companies have extended their support to the cause.
The accounting conglomerate KPMG played a significant role among them, not only in fundraising but also in overseeing the distribution of selected funds.
Other notable contributors also include Zengo, Fuse, Wonderland, and Psagot Equity.
In an interview with Benzinga, Noam Kaplan, director of KPMG Israel, elaborated on KPMG’s key role in Israel, saying: “KPMG’s role in the Crypto Aid Israel initiative is mainly to help design the flow of funds as well as various KYCs. /AML checks in place.”
Also read: Israeli army was given ‘green light’ to move into Gaza: Netanyahu says ‘fighters are ready’, US issues global travel warning
He further emphasized the importance of bridging the gap between traditional finance and cryptocurrencies, especially in fundraising such as this one.
Ben Samocha, CEO and founder of CryptoJungle, details the impact of the aid distributed: “Zaka, a volunteer Search and Rescue organization, purchased helmets, ceramic vests and stretchers with the funds.
“The Foundation for Advancement of Eshkol Regional Area provided a haven for families in the Dead Sea area along with food and activities for children. Lev Echad supplied clothing, shelter, food, and hygiene products, while Latet helped Holocaust survivors and orphans evacuated from the Gaza Strip. .”
He added that the overwhelming response from recipients was both “amazing” and deeply moving.
Image Source: Ailtra.ai
