Major exchanges and Web3 companies mobilize rapid financial aid after a catastrophic blaze claims more than 128 lives.
Crypto Donations for Hong Kong Fire Relief Efforts
The global crypto sector has pledged over $3 million in emergency aid following the devastating fire at the Wang Fuk Court apartment complex in Hong Kong’s Tai Po District. The blaze, which lasted two days and spread across seven high-rise blocks, has become Hong Kong’s deadliest fire in nearly 80 years, leaving at least 128 residents dead and hundreds displaced.
Three leading centralized exchanges — Bitget, Binance and KuCoin — jointly committed HK$24.78 million (US$3.19 million) to support victims and assist with reconstruction.
The contributions include:
- Bitget: HK$11.7 million (US$1.5 million)
- Binance: HK$10 million (US$1.28 million)
- KuCoin: HK$2 million (US$256,000)
Bitget provided the largest share, stressing that the exchange “stands with Hong Kong” and will support long-term recovery in the affected community.
These rapid contributions underscore how crypto companies are becoming key responders during large-scale emergencies.
Web3 Fundraisers and Community Support Expand Relief Channel
Hong Kong–based Web3 firm Animoca Brands launched a blockchain-based fundraiser to broaden support. The company opened EVM-compatible and Solana wallets for public donations and pledged to convert 100% of collected crypto into Hong Kong dollars by Dec. 3, directing the funds to the Hong Kong Red Cross.
As of the latest on-chain data:
- EVM wallet: US$171,000 collected
- Solana wallet: US$1,500 collected
Animoca also committed to publishing a full receipt for transparency, reinforcing its role in on-chain humanitarian fundraising.
Meanwhile, Tron founder Justin Sun pledged additional financial support, joining industry leaders in backing relief efforts.
Crypto Donations Grow as a Disaster Response Tool
Crypto-based aid has become an increasingly important channel for global disaster response.
In 2024 alone, crypto donations exceeded US$1 billion, boosted by support for victims of the Southeast Asia earthquake.
Notably:
- CZ, former Binance CEO, donated nearly US$600,000 after the 7.7-magnitude quake in Thailand and Myanmar.
- Vitalik Buterin contributed over US$180,000 in ETH to a biotech charity later that year.
These examples highlight how borderless digital assets offer fast, censorship-free support during crises, making crypto a growing force in humanitarian relief.
Disclaimer
This content is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency trading involves risk and may result in financial loss.