Vancouver Mayor Ken Sim has launched a fund to help firefighters with mental health. According to New Revelations, funds managed by Vancouver Firefighters' charity are set to accept both cash contributions and digital assets, particularly Bitcoin.
In a statement released by the mayor's office, the development comes from figures released by the Canadian Mental Health Association, showing that the rate of suicide among firefighters is 30% higher than the rate of suicide among the public.
“To date, donors have pledged to the fund a total of 3.5 bitcoin, worth about $550,000,” a statement from the mayor's office said.
Vancouver Mayor floats firefighters mental health fund
Initially, Vancouver's fighter charity raised about $2.7 million during a fundraiser last week. During the fundraiser, SIM announced the fund and explained to the audience how it could help the victims. The mayor's office says the pledge will be added to the funds raised and will go a long way in helping victims of mental health issues for Vancouver firefighters.
Eric Himmelman, executive director of Vancouver Firefighters' Charity, said the organization will do its best to distribute the funds meaningfully. “The funding and awareness to provide more mental health support to struggling firefighters is more appreciated and necessary than ever,” he added. A report will be presented by staff this fall.
This initiative is coming at a time when volatility has increased in the crypto market. As Cryptopolitan previously reported, the Federal Reserve recently announced its first interest rate cuts in 2025. Additionally, the cut could be a move that alarm whales now, according to analysts, to earn profits before their assets drop even further.
Ken Sim continues to push Bitcoin-friendly cities
This isn't the first brush with Ken Sim's digital assets, and the mayor of Vancouver said last year he is interested in cryptocurrency investments. He mentioned it at a council meeting in November 2024, saying he plans to present a motion entitled “Saving the purchasing power of cities through diversifying financial resources that will become Bitcoin-friendly cities.”
The push came when companies moved to Bitcoin. Countries were also looking to establish strategic Bitcoin reserves. When asked for details of his movements, the Sims of the time did not give too many details. He noted that he has no additional details to share until he submits the final move. This is a movement that sparked division among Vancouver residents.
According to some residents, Sims appear to be pro-bitcoin, and they love it. They believe he wants Vancouver to become the next Bitcoin-friendly city in the world. “We'll see where it goes because that seems like a goal, but that's exciting,” the resident said. Meanwhile, the idea that Andreas Park, a professor of finance at the University of Toronto, called attention to this type of investment didn't seem to work.
“When government officials invest public money in anything, in any way, I actually don't like it,” he said. “It's not their business,” Park said instead of jumping straight into digital assets, the government should focus on blockchain technology, which could help the entire city.
Meanwhile, Sim continues to push Vancouver to become a Bitcoin-friendly city, and the mayor in a recent interview states that promoting Bitcoin is a hill to die for him.
