Bitcoiners Launch Cryptocurrency Relief Fund Following Beirut Explosion
A group of Lebanese expats in Europe organized the Crypto Disaster Relief For Beirut Explosion fund to support those affected by last week's tragedy.
Aug 11, 2020 at 9:22 p.m. UTCUpdated Aug 19, 2021 at 3:37 a.m. UTC
:format(webp)/cloudfront-us-east-1.images.arcpublishing.com/coindeskuat/XCQQGIK5YNEMTEKIGR7VIDV3A4.jpg)
Bitcoiners have quickly mobilized to raise relief funds following an explosion that wreaked havoc in Beirut last week. The campaign comes as the Lebanese banking system remains in crisis.
- A group of Lebanese expats in Europe organized the Crypto Disaster Relief For Beirut Explosion fund, spreading the word on Instagram.
- The site’s tagline: "Embracing Cryptocurrency services to bypass Lebanon’s corrupted financial system."
- This requires manual liquidity, with the help of over-the-counter traders on the ground, to fund local nonprofits like Beit el Baraka and Baytna Baytak, which are both helping people displaced by the blast to find food and shelter.
- Palestinian professor and author Saifedean Ammous, who lived in Lebanon for many years, is also fundraising for Beit el Baraka, plus the Lebanese Red Cross. He has raised several thousand dollars worth of bitcoin so far.
- The nonprofit Kilna Ya3ne Kilna (which means “All for All”) is also crowdfunding with bitcoin for relief efforts, delivering food and hygiene kits to families in need.
STORY CONTINUES BELOW
13:18
Bitcoin Mining in the U.S. Will Become 'a Lot More Decentralized': Core Scientific CEO
05:10
Binance to Discontinue Its Nigerian Naira Services After Government Scrutiny
04:07
The first video of the year 2024
40:07
The last regression video of the year 3.67.0
:format(webp)/downloads.coindesk.com/arc/failsafe/user/1x1.png)