Some cryptocurrency exchanges and Web3 companies have pledged millions of dollars to support the victims of the devastating fire at the Wang Fuk Court apartment complex in Tai Po District, Hong Kong. This tragic event, which claimed the lives of at least 128 residents, spurred the crypto industry to mobilize, highlighting its growing role in real-world relief efforts. Bitget, Binance, and KuCoin are among the main donors, with Bitget contributing the largest share ($1.5 million), as announced by its CEO Gracy Chen.
The two-day fire, which began on Wednesday and spread to seven high-rise buildings before being extinguished on Friday, was described by the media as Hong Kong’s deadliest fire in 80 years. In addition to direct donations from exchanges (a total of $3.19 million), Hong Kong-based Web3 intellectual property company, Animoca Brands, raised token-based funds through EVM and Solana wallets. Animoca Brands pledged to convert 100% of the funds raised to Hong Kong dollars by December 3, destined for the Hong Kong Red Cross.
The crypto industry’s initiative for the fire victims in Hong Kong demonstrates the sector’s growing capacity to offer a lifeline in disaster situations. As Animoca Brands’ donation deadline approaches, it will be important to observe the final amount raised and how the transparency of these crypto donations could influence future aid efforts. The precedent set by these companies underscores the utility of cryptocurrencies for global philanthropy.
Source: https://x.com/GracyBitget/status/1994282868852576637
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