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.

AccessTimeIconAug 11, 2020 at 9:22 p.m. UTC
Updated Dec 12, 2022 at 1:41 p.m. UTC
10 Years of Decentralizing the Future
May 29-31, 2024 - Austin, TexasThe biggest and most established global event for everything crypto, blockchain and Web3.Register Now

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 Explosionhttps://www.cryptofundlebanon.com/ 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.

Disclosure

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.


Learn more about Consensus 2024, CoinDesk's longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.