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The flames are raging in Los Angeles, and the crypto community is organizing in response to this tragedy. With the launch of an emergency fund by The Giving Block, cryptocurrency donations are resuming vigorously to assist the victims. But behind this surge of generosity lies an ambition: to prove that the often-criticized crypto-assets can become effective and transparent tools of solidarity.
Crypto donations: an innovative surge of solidarity
In the face of the devastating fires hitting Los Angeles since January 7, 2025, and that are turning cryptos into smoke, The Giving Block reacted quickly by launching an emergency fund. The goal is clear: to raise 2 million dollars to support those affected.
Jared Isaacman, CEO of Shift4, has committed to double a million dollars collected, taking generosity to dizzying heights.
UPDATE: Thanks to the amazing response from donors like you and the generosity of @rookisaacman, the first $1M in donations to orgs in our LA Wildfires Fundraiser will be matched!
Let's raise $2M to aid residents, first responders, & animals w/ shelter, food, and medical care. https://t.co/FX5MX9dG4C
— The Giving Block (@TheGivingBlock) January 9, 2025
Why crypto donations? According to Ben Pousty, operations director of The Giving Block:
” Donating in cryptocurrency allows for tax optimization of one’s generosity by avoiding capital gains taxes. ”
Cryptos, far from being mere speculative instruments, establish themselves here as catalysts for modern generosity.
The advantages are noteworthy:
- Fast and borderless transactions;
- Reduced fees compared to traditional systems;
- Increased transparency thanks to blockchain.
The platform, already known for its interventions during previous crises, such as the Maui fires in 2023, confirms that crypto can be a lever for social transformation.
A tragedy in Los Angeles that mobilizes all forces
Los Angeles is burning, and it’s not just the temperatures rising: anger is also brewing on social media. While Elizabeth Warren calls for supporting those affected through local organizations, critics point to the use of platforms charging fees.
To help support the communities around L.A. being devastated by wildfires, can you split a donation between the Los Angeles Fire Department Foundation and United Way of Greater Los Angeles? 100% of your donation will go directly to these organizations: https://t.co/EtgMfHrEtq
— Elizabeth Warren (@ewarren) January 11, 2025
A certain “DataRepublican” even mocks the supposed generosity of the Democrats:
” Why not just give directly to the firefighters? “
Meanwhile, the situation on the ground is critical: mass evacuations, blocked roads, and destroyed infrastructure. Crypto donations provide a valuable responsiveness here, offering an alternative to sometimes congested traditional systems.
For many, this crisis is a new opportunity to prove that the crypto community can combine innovation and humanity. The support goes far beyond mere digital dollars: it is about a collective commitment, transcended by technology.
However, it must be remembered that crypto exchanges have also played a crucial role in the past. In 2023, Binance allocated 3 million dollars in crypto to the victims of the Moroccan earthquake, showing that digital solidarity can extend to global scales. A lesson to ponder for skeptics.
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La révolution blockchain et crypto est en marche ! Et le jour où les impacts se feront ressentir sur l’économie la plus vulnérable de ce Monde, contre toute espérance, je dirai que j’y étais pour quelque chose
DISCLAIMER
The views, thoughts, and opinions expressed in this article belong solely to the author, and should not be taken as investment advice. Do your own research before taking any investment decisions.
