A consortium of local figures in the cryptocurrency industry, including Cointelegraph, 42Studio, MarketAcross, Collider Ventures, CryptoJungle, Nilos, Blockchain B7, Efficient Frontier, Ironblocks, the Israel Blockchain Association, and Bits of Gold, have launched Crypto Aid Israel.

The initiative aims to raise global funds to provide humanitarian assistance to Israelis who have been negatively impacted by the ongoing conflict.

According to Ben Samocha, the CEO of CryptoJungle, the goal is to generate enough resources to offer food and shelter to families who have lost their homes, as well as hygiene and healthcare products for the civilian population affected by the clashes.

The Crypto Aid Israel project is soliciting Bitcoin and Ether donations among other denominations through a multisig wallet run by prominent members of the local Web 3.0 community.