A coalition of cryptocurrency and fintech companies has pledged more than HK$130mn ($16.7mn) to aid victims of the devastating fire in Hong Kong’s Tai Po district, which has claimed nearly 150 lives.
Binance, Bitget Lead $16mn Relief Fund for Tai Po Fire Victims
1 December 2025 - 13:00 CET
By Sandmark staff
The relief effort comes as the territory observes a third day of official mourning following the catastrophe at the Wang Fuk Court housing complex. The blaze, which broke out on 26 Nov, was upgraded to a No. 5 Alarm, the city’s highest severity level, and engulfed seven of the estate's eight residential towers.
Industry response
Binance, the world’s largest cryptocurrency exchange, has pledged HK$10mn ($1.28mn) to a dedicated charity in the district.
"We’d like to send our deepest condolences to the victims and their loved ones in this tragedy, and our heartfelt sympathies to all the injured and those affected in the community," said Binance CEO Richard Teng in a statement.
Bitget has committed HK$12mn ($1.54mn) across three local charities. The funds are earmarked for emergency medical care, financial assistance for displaced families, and psychological counseling for survivors.
Coordinated aid
According to the Vantage Foundation, a global charitable platform coordinating part of the response, total donations from the Web3 and fintech sectors have now surpassed HK$130mn ($16.7mn).
"As rescue and resettlement work continues, the industry hopes that more companies and organizations will remain attentive to the needs of affected residents," a Vantage spokesperson said.
Historic tragedy
The fire is recorded as the deadliest in Hong Kong's modern history. The Wang Fuk Court estate, located in the northeast New Territories, was left decimated, leaving hundreds trapped and thousands homeless.
The scale of the disaster has triggered a city-wide mobilization, with the crypto sector's rapid cross-border donations playing a visible role in the immediate humanitarian response.
