Earlier this week, a major fire incident in a Hong Kong-based residential estate wreaked major havoc in the Tai Po area, leading to the tragic deaths of at least 128 people and counting. In an attempt to provide financial aid to the ongoing relief efforts, crypto giants Binance and Animoca Brands have pledged support.
Binance, in an update on X, shared that it has donated HKD 10 million to support the ongoing rescue and rehabilitation efforts. Exchange CEO Richard Teng and co-founder Changpeng Zhao also shared heartfelt condolences to the victims of the tragedy, which is being called Hong Kong’s worst fire accident in at least 80 years.
We are deeply saddened with this unfortunate event. Our thoughts and prayers to all those affected. Stay strong. https://t.co/RJpR1LtaJs
— Richard Teng (@_RichardTeng) November 27, 2025
Animoca Brands, on the other hand, announced a relief initiative inviting the international crypto community to wire-in donations into two wallet addresses that have been set up and are being overseen by the company itself. The window to donate will close on December 2.
“Animoca Brands pledges to convert tokens donated to the above wallets into Hong Kong dollars and donate all proceeds to the Hong Kong Red Cross to support relief and recovery efforts,” the Hong Kong-based company said in its announcement post. “For transparency, Animoca Brands will post a donation receipt showing the final amount collected and donated.”
Along with Animoca and Binance, others from the industry are also contributing with financial assistance. Apple CEO Tim Cook, for instance, said the iPhone-maker is also donating to the relief efforts.
Seychelles-based OKX joined Binance in donating HKD 10 million to the support fund set up by the Hong Kong government. OKX co-founder Star Xu said the platform will “continue” to support the community. Bitget CEO Gracy Chen also poured in HKD 12 million into the ongoing rehabilitation and treatment attempts whereas the Gate crypto exchange has set up an emergency relief fund of HKD 10 million to support residents.
On November 26, the Wang Fuk Court residential estate burst into flames – engulfing eight high-rise buildings – risking 1,900 flats and over 4,600 residents. Hong Kong has classified this a No. 5 alarm which, as highlighted by Animoca, is Hong Kong’s highest category in fire incidents. Hundreds of people are still deemed missing.
The Hong Kong police have reportedly arrested three people, in charge of the renovation of the residential estate, on charges of manslaughter.