Aug 11, 2020 at 21:22 UTC
The Beirut port following an Aug. 4 explosion that rocked the city. (Mehr News Agency/Creative Commons)
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.
Read more: How Bitcoin Fits Into Lebanon’s Banking Crisis
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