Crypto Aid Israel Raises $185,000 For Relief During Conflict With Hamas: Here's How The Funds Were Spent

Crypto Aid Israel, a collective of influential figures in the crypto industry, on Thursday, announced raising over $185,000 to aid Israelis affected in the region's conflict with Hamas. The funds were distributed to various NGOs, aiming to provide immediate relief to those most in need.

More than 30 companies have extended their support to this cause.

Among them, accounting conglomerate KPMG has played a significant role, not just in fundraising, but also in overseeing the distribution of the collected funds.

Other noteworthy contributors also include Zengo, Fuse, Wonderland and Psagot Equity.

Speaking with Benzinga, Noam Kaplan, director at KPMG Israel, elaborated on KPMG’s pivotal role, stating, "KPMG’s role in the Crypto Aid Israel initiative is primarily around assisting in the design of the flow-of-funds, as well as the various KYC/AML controls put in place."

Also Read: Israeli Army Gets 'Green Light' To Move Into Gaza: Netanyahu Says 'Warriors Are Ready,' US Issues Global Travel Warning

He further emphasized the importance of bridging the gap between traditional finance and crypto, especially in fundraising efforts like these.

In detailing the impact of the distributed aid, Ben Samocha, CEO and founder of CryptoJungle, said, "Zaka, a Search and Rescue volunteering organization, bought helmets, ceramic vests and stretchers with the funds.

"Foundation for Advancement of Eshkol Regional Area provided safe shelter for families in the Dead Sea area, alongside food and children activities. Lev Echad supplied clothing, shelter, food, and hygienic products, while Latet assisted Holocaust survivors and orphans evacuated from the Gaza envelope."

He added tthe overwhelming response from beneficiaries was both "amazing" and deeply moving.

Crypto Aid Israel has already completed two rounds of aid distribution to NGOs actively involved in relief efforts.

Read Next: Israel-Hamas War: Day 13 - Netanyahu's Long War Alert, Egypt Opens Aid Path To Gaza, Biden Considers $10B Support

Join Benzinga's Fintech Deal Day & Awards on Nov. 13 and Future of Digital Assets on Nov. 14 in New York City to stay updated on trends like AI, regulations, SEC actions and institutional adoption in the crypto space. Secure early bird discounted tickets now!

Photo: Shutterstock