- Several Bitcoiners came together to raise relief funds following the explosion in Beirut.
- Over-the-counter traders on the ground will ensure liquidity
- The funds are used to help people displaced by the blast to find food and shelter.
The cryptocurrency community has recently mobilized to raise relief funds following the explosion that took place in Beirut. Several Lebanese expats in Europe have organized the “Crypto Disaster Relief For Beirut Explosion” fund and used Instagram to promote it.
The process involves manual liquidity, which is done with the help of over-the-counter traders on the ground. This is used to fund local nonprofits like Beit el Baraka and Baytna Baytak, helping people affected by the blast to find shelter and food.
Saifedean Ammous, a Palestinian professor and author, is also fundraising for Beit el Baraka and the Lebanese Red Cross. He has raised BTC worth several thousand dollars so far. The nonprofit Kilna Ya3ne Kilna (which means “All for All”) is also crowdfunding with Bitcoin for relief efforts, delivering hygiene kits and food to the citizens in need.