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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.
By Leigh Cuen
Updated Dec 12, 2022, 1:41 p.m. Published Aug 11, 2020, 9:22 p.m.
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.
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- 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.
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Solana CME Futures Fell Short of BTC and ETH Debuts, but There's a Catch
When adjusted for asset market capitalization SOL's relative futures volume looks better, K33 Research noted.
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- Solana's SOL futures began trading on the Chicago Mercantile Exchange (CME) on Monday, with a notional daily volume of $12.3 million and $7.8 million in open interest, significantly lower than the debuts of bitcoin (BTC) and ether (ETH) futures.
- Despite the seemingly lackluster debut, when adjusted to market value, SOL's first-day figures are more in line with BTC's and ETH's, according to K33 Research.
- Despite the bearish market conditions, the launch of CME SOL futures offers new ways for institutions to manage their exposure to the token, said Joshua Lim of FalconX.
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