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.
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.