The crypto industry has been quick to offer support to Hong Kong residents affected by the worst fire in 80 years, which has left at least 128 people dead.
Some of the world’s largest cryptocurrency exchanges and Web3 companies have pledged millions of dollars to help victims of the Wang Fuk Court apartment fire in Hong Kong’s Tai Po district, signaling the industry’s growing Vai in on-the-ground relief efforts.
Three major CEX exchanges have publicly pledged a total of HK$24.78 million (about US$3.19 million) to support the victims, including US$1.5 million from Bitget, US$1.28 million from Binance, and about US$256,000 from Kucoin. Bitget made the largest contribution, aiming to support the reconstruction and recovery of the affected community, CEO Gracy Chen said on X, expressing his wish for residents to recover soon and rebuild their homes.
The two-day fire, which started on Wednesday at Wang Fuk Court and spread to seven high-rise buildings before being extinguished on Friday, was described by media as Hong Kong's deadliest fire in 80 years.
Hong Kong-based intellectual property firm Web3, Animoca Brands, also launched a Token fundraising campaign, calling on the crypto community to contribute via Ethereum Virtual Machine (EVM) and Solana wallet addresses. The campaign runs until December 2, and Animoca has pledged to convert 100% of the donations to Hong Kong dollars by December 3 to support the Hong Kong Red Cross. The company will publish receipts showing the total amount collected and donated.
At the time of writing, Animoca's EVM wallet has received $171,000 and Solana wallet has received $1,500 in crypto, according to crypto intelligence platform Nansen.
TRON Network founder Justin Sun also pledged an undisclosed amount to the fire victims.
Crypto donations become a lifesaver in natural disasters
Cryptocurrency donations are becoming a vital lifeline for disaster areas and economies lacking banking infrastructure.
In 2024, crypto donations exceeded $1 billion, mainly large transfers to earthquake victims in Thailand and Myanmar.
Binance co-founder Changpeng “CZ” Zhao donated nearly $600,000 to disaster relief in April 2024, following the 7.7-magnitude earthquake that struck Thailand and Myanmar on March 28.
Ethereum co-founder Vitalik Buterin is also known for his crypto donations. In October 2024, Buterin donated more than $180,000 in Ether to the Kanro charity.
