Binance’s swift HK$10 million commitment surges into Hong Kong’s disaster zone, powering urgent relief and future rebuilding as the city confronts its deadliest fire in generations and mounting pressure for transparent, accountable recovery.
Binance’s Relief Pledge Amid Historic Hong Kong Tragedy
Crypto exchange Binance announced on Nov. 27 that it would provide $10 million Hong Kong dollars (approximately $1,285,421) to relief groups after the destructive Wang Fuk Court fire in Hong Kong, directing support toward emergency operations and future reconstruction. The exchange said the funds would reach affected households through established distribution channels.
“We are deeply saddened with this unfortunate event. Our thoughts and prayers to all those affected. Stay strong,” Binance CEO Richard Teng shared on social media platform X. Binance detailed in a separate statement on X:
Binance to donate HK$10 million to support rescue and reconstruction efforts.
The Wang Fuk Court residential complex in Tai Po, Hong Kong, experienced a catastrophic fire on Nov. 26. The conflagration, which reached the highest severity, a Level 5 alarm, rapidly engulfed seven of the eight high-rise towers. As of writing, the disaster resulted in a confirmed death toll of at least 75 fatalities and 77 injuries. Police arrested three individuals—two directors and one consultant from the construction company—on suspicion of manslaughter due to gross negligence regarding safety standards. The fire is the city’s deadliest since 1948.
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“To provide tangible assistance for disaster relief and subsequent reconstruction efforts, Binance will make donations to the affected areas through relevant channels, supporting residents of Hong Fu Court in rebuilding their homes and doing our humble part,” the crypto exchange added. “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.” These statements framed the company’s response as the scale of the damage became clearer, with residents reporting widespread losses and emergency teams continuing search operations.
FAQ ⏰
- How much money did Binance commit to Hong Kong fire relief? Binance pledged HK$10 million to support emergency response and long-term rebuilding.
- Which fire disaster prompted Binance’s donation? The donation followed the devastating Wang Fuk Court fire, Hong Kong’s deadliest in more than 70 years.
- How will Binance’s relief funds be distributed? The exchange said funds will reach affected households through established distribution channels.
- How does crypto factor into Hong Kong’s disaster response debate? Crypto advocates argue blockchain-enabled aid boosts transparency and widens participation during major emergencies.
Author: Kevin Helms
Source: Bitcoin
Reviewed By: Editorial Team
