Sanctions Force Hamas To Beg For Cryptocurrency Donations

By Sumedha Bose

If you haven’t heard of Hamas, chances are you have been living in a bubble. The world around us is rotting faster than we care to believe, and conflict zones around us are getting worse by the hour.

The Israel-Palestine conflict is one such example of a conflict, that has dragged on for way longer than it should have, and is estimated to drag on in the future for a long, long time. One of the rebel groups that this conflict has given rise to is Hamas, which is a Palestinian Islamist group of Sunni Muslims.

Word is that since the Palestinian National Authority, which is the interim body that governs the West Bank and the Gaza Strip, cut off much of Hamas’ funding, the group has been in dire need of funds. This is why, Hamas is now begging for bitcoin donations, due to its desperate need of financial resources.

A representative of Hamas’ military wing made the following statement,

“Support the resistance financially through the Bitcoin currency”

It’s clear that the group has suffered a blow from these Israeli and US sanctions. The Times of Israel jokingly replied to the statement by saying,

 “There was no immediate reply from Bitcoin.”

Hamas is now urging those around the world, who sympathize with the cause of Palestine, to support their movement by sending cryptocurrency donations.

Hamas’ current insolvency has much deeper reasons which we shall discover, if we dig deep into its source of funding. Hamas is primarily funded by Iran, which currently is facing harsh US sanctions itself. This has resulted in Iran looking into launching a national cryptocurrency to circumvent these sanctions.

But meanwhile, Hamas is suffering due to the shortage of funds. Which is why it is looking to cryptocurrency to get it through these tough times.

This just raises the question of cryptocurrency being used to fund terrorism all over again, and how can we put a stop to it.

Sumedha Bose

Sumedha uses words as her crutch to get by in life. She takes a keen interest in debating, dancing and destroying the patriarchy in her free time.

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