Source: CryptoNewsNet Original Title: Crypto Firms Commit HK$57M in Immediate Aid After Hong Kong’s Deadliest Fire Original Link:

Crypto Sector Mobilizes HK$57 Million in Emergency Aid Following Hong Kong Fire

Several major crypto companies have pledged a combined HK$57 million ($7.3 million) in emergency aid following a fire that broke out in a residential tower in Hong Kong’s Tai Po earlier this week.

The funds will be used to provide the district’s relief teams with essential support in the early stages of recovery.

The Tai Po Fire Tragedy

The Tai Po incident began on November 26 at Wang Fuk Court in Hong Kong and was classified as a Level 5 fire, the city’s most severe category. Authorities have described it as the deadliest residential blaze the area has seen in more than a decade, claiming several lives and displacing dozens of families. At present, at least 94 people have been confirmed dead and 76 injured, with nearly 300 still missing.

Industry Response

In the aftermath of the incident, leading crypto companies have organized a coordinated humanitarian response to assist rescue operations, provide support to affected residents, and contribute to rebuilding efforts. In total, the sector has committed HK$57 million to relief plans.

“We extend our deepest condolences to all residents affected in Tai Po, and pray that the deceased rest in peace and the living remain strong,” said a major crypto exchange in a statement. Another prominent platform added, “Our hearts are with all those affected by the tragic Tai Po fire in Hong Kong.”

Specific contributions include:

• Certain head platforms and Avenir Group each pledged HK$10 million
• A major exchange contributed HK$2 million
• Matrixport confirmed a donation of HK$3 million
• Another platform committed HK$12 million towards affected families and community reconstruction
• TRON, in partnership with another exchange, jointly donated HK$10 million

Crypto’s Role in Global Emergency Relief

This isn’t the first time crypto firms have come together to aid in an emergency. The sector has a track record of stepping in during such situations over the years. For example, in 2023, several exchanges sent more than $9 million to support Turkey and Syria after the earthquake. Major platforms also issued airdrops to users in the hardest-hit regions of Morocco.

The industry also contributed tens of millions to support Ukraine, including major grants from leading projects to groups such as UNHCR and World Central Kitchen. The latest combined initiative is expected to help by giving local teams the liquidity they need to keep relief operations running.