Some of the world’s largest crypto exchanges and Web3 firms have pledged millions to support victims of the catastrophic fire at Hong Kong’s Wang Fuk Court in the Tai Po District, underscoring the industry’s expanding role in real-world disaster relief.
Three major centralized exchanges have committed a total of 24.78 million HKD ($3.19 million) to assist survivors of the blaze, which left at least 128 people dead. Bitget, Binance and KuCoin each announced contributions, with Bitget leading at 11.7 million HKD ($1.5 million). Binance pledged 10 million HKD ($1.28 million), while KuCoin contributed roughly 2 million HKD ($256,000).
Bitget CEO Gracy Chen said the exchange’s donation is intended to support recovery and rebuilding efforts within the affected community, adding on X that the company “stands with Hong Kong, wishing affected residents a swift recovery and rebuilding of their homes.”
The blaze, which began Wednesday at the Wang Fuk Court complex, burned for two days and spread across seven high-rise buildings before firefighters finally brought it under control on Friday. Local media have called it Hong Kong’s deadliest fire in eight decades.
Hong Kong–based Web3 firm Animoca Brands has also launched a token-based relief campaign, inviting donations from the crypto community through both an EVM-compatible wallet and a Solana address.
The fundraiser will remain open until Dec. 2, with Animoca pledging to convert all contributions into Hong Kong dollars by Dec. 3 and donate the full amount to the Hong Kong Red Cross. For transparency, the company said it will publish a donation receipt showing the total funds raised and delivered.
At the time of writing, Animoca’s fundraising wallets had received roughly $171,000 via its EVM-compatible address and about $1,500 through its Solana wallet, according to data from analytics platform Nansen.
Tron founder Justin Sun also pledged an undisclosed contribution to support those affected by the fire.
Crypto donations emerge as a disaster lifeline
Cryptocurrency-based contributions have increasingly become a critical source of aid for regions hit by disasters or lacking robust banking infrastructure. In 2024, total crypto donations exceeded $1 billion, driven in large part by relief efforts for victims of the Thailand–Myanmar earthquake.
Binance co-founder Changpeng “CZ” Zhao personally donated nearly $600,000 to the earthquake relief fund in April 2024, following the 7.7 magnitude quake on March 28. Ethereum co-founder Vitalik Buterin has also been a consistent donor, contributing more than $180,000 worth of Ether to the biotech charity Kanro in October 2024.
