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Beirut explosion (Courtesy: Aljazeera)
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Cryptocurrency Relief Fund Launched For Beirut Explosion

Beirut explosion (Courtesy: Aljazeera)
Beirut explosion (Courtesy: Aljazeera)

Following the massive explosion in Lebanon’s Beirut port, Bitcoiners have launched a cryptocurrency relief fund to support the victims and damage incurred during the situation.

The noble cause was initiated with by group of Lebanese expat who came together to raise fund in the difficult situation. The group took to Instagram to notify about the Crypto Disaster Relief and asked people to support them.

“locals, internationals or any cryptocurrency owner, if you wish to help Lebanon after the disaster that hit Beirut on the 4th of August, by donating cryptocurrencies: this post is for you!!,” they wrote on Instagram.

“A cryptocurrency disaster relief donation fund has been set up by Lebanese expats that wish to help in any way possible. If interested visit the following correspondent website www.cryptofundlebanon.com,” the group added in the post.

The post also mentioned the name of the beneficiary organisation through the effort.

https://www.instagram.com/p/CDrMH63Jqun/?utm_source=ig_web_copy_link

Lebanon has recorded large financial crisis over the years. It might continue to hit their financial position but due to the blast in the country the movement in the world of cryptocurrency will not be impacted. More so, as the market of cryptocurrency in Lebanon is not as big as compared to other countries like the United States.

The country’s economy is primarily based on services with the tourism sector responsible for a large portion of Lebanon’s GDP. It imports 80% of the products which includes oil, meat, grain, and other supplies.

Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions. Crypto is not a legal tender and is subject to market risks. Readers are advised to seek expert advice and read offer document(s) along with related important literature on the subject carefully before making any kind of investment whatsoever. Crypto market predictions are speculative and any investment made shall be at the sole cost and risk of the readers.