Cryptocurrency

Bitcoin

Impact

<p>In a recent move, Israel Police announced the freezing of cryptocurrency accounts linked to Hamas. These accounts were actively used by the terrorist organization to solicit donations via social media platforms. The operation was executed with the support of Binance, a leading cryptocurrency exchange.</p> 
<p>&nbsp;</p> 
<h2 style="text-align: center;" id="strong-background-of-the-operation-strong"><strong>Background of the Operation</strong></h2> 
<p>Hamas initiated a fundraising campaign on various social networks during the outbreak of the conflict. Their aim was to encourage the public to deposit cryptocurrencies into their accounts. Acting swiftly, the cyber unit of Lahav 433, in collaboration with the National Bureau for Counter Terror Financing of Israel (NBCTF) and other intelligence agencies,<a href="https://crypto.news/new-research-proposes-off-chain-computations-on-bitcoin/"> identified and froze these accounts</a>. The funds seized will be directed to the state treasury.</p> 
<p>This isn’t the first time Binance has been in the spotlight for such activities. Earlier in March, the U.S. Commodity Futures Trading Commission (CFTC) filed a lawsuit against Binance. The allegations included potential criminal activities, such as money laundering, with specific mention of “Hamas transactions” on its platform in February 2019.</p> 
<p>&nbsp;</p> 
<h2 style="text-align: center;" id="strong-the-broader-picture-strong"><strong>The Broader Picture</strong></h2> 
<p>Beyond the Binance operation, Israel Police’s cyber unit also collaborated with British law enforcement. Their joint effort led to the freezing of a Hamas-related account at Barclays Bank. The Israel Police and the Israel Defense Forces, along with their partners, remain dedicated to combating terrorism financing.</p> 
<p>The urgency of these actions became evident when Hamas launched a massive assault, resulting in the tragic loss of hundreds of civilian lives. Reports suggest that approximately 900 individuals have been killed, with over 2,300 injured by Hamas forces.</p> 
<p>&nbsp;</p> 
<h2 style="text-align: center;" id="strong-impact-of-israel-palestine-war-on-cryptocurrency-strong"><strong>Impact of Israel-Palestine War on Cryptocurrency</strong></h2> 
<p>&nbsp;</p> 
<p>The ongoing conflict between Israel and Palestine has raised concerns about its potential impact on the cryptocurrency market. Historically, geopolitical upheavals, such as wars, lead to market volatility. While commodities like oil and <a href="https://walletinvestor.com/magazinadmin/the-israel-gaza-conflicts-influence-on-gold-and-safe-assets/">gold often see a price surge</a>, riskier assets like stocks and cryptocurrencies might face a downturn.</p> 
<p>Miles Deutscher, a renowned crypto analyst, shared insights on the potential repercussions of the Israel-Palestine conflict on the S&amp;P 500. He highlighted that markets usually recover quickly from geopolitical shocks, despite initial volatility. Drawing parallels, given the observed correlation between Bitcoin and the S&amp;P 500, Bitcoin is also expected to experience short-term volatility.</p> 
<p>&nbsp;</p> 
<blockquote class="twitter-tweet"> 
 <p dir="ltr" lang="en">How will markets react to the Israel conflict? </p> 
 <p>Well, the unpredictable and fast-changing nature of such events make it hard to make short-term predictions. </p> 
 <p>However, we have a significant sample size of past geopolitical/military events.</p> 
 <p>Data suggests that markets typically… <a href="https://t.co/bOu1rkB7Hw">pic.twitter.com/bOu1rkB7Hw</a></p> 
 <p>— Miles Deutscher (@milesdeutscher) <a href="https://twitter.com/milesdeutscher/status/1711296368986542522?ref_src=twsrc%5Etfw">October 9, 2023</a></p>
</blockquote> 
<p><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></p> 
<h2 style="text-align: center;" id="strong-conclusion-strong"><strong>Conclusion</strong></h2> 
<p>The Israel-Palestine conflict has multifaceted implications, from direct actions like freezing of Hamas accounts to potential ripples in the cryptocurrency market. As the situation unfolds, it remains crucial for investors and the general public to stay informed and tread cautiously.</p>

Israel Stops Hamas from Using Crypto on Binance

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