Bitget, recognized as the world’s largest Universal Exchange (UEX), has announced a significant philanthropic initiative to aid families impacted by the devastating fire at Wang Fuk Court in Tai Po, Hong Kong. The exchange will contribute a total of $1.54 million USD (equivalent to $12,000,000 HKD) to support both immediate relief efforts and long-term community rebuilding efforts in the wake of one of the deadliest residential fires in Hong Kong’s history.
The tragic incident, which occurred on November 26, involved a five-alarm blaze that ravaged multiple towers at the Wang Fuk Court estate, resulting in at least 128 fatalities and injuring more than 70 individuals. The fire has displaced over 900 residents, many of whom are now reliant on temporary shelters as they navigate the aftermath of this catastrophe.
Authorities have launched investigations into the fire, focusing on potential criminal negligence and the safety standards of materials used in renovations. Meanwhile, search, rescue, and recovery operations are ongoing as families desperately seek to locate missing loved ones.
In light of these circumstances, Bitget aims to ensure that the funds will provide transparent and effective assistance. To achieve this, the exchange has partnered with three well-established charities in Hong Kong. Yan Chai Hospital is set to receive $5 million HKD (approximately $640,000 USD) to bolster emergency medical services and treatment for those injured, as well as facilitating rehabilitation for families affected by the fire.
The Salvation Army Hong Kong will be allocated $3.5 million HKD (around $450,000 USD) for providing financial assistance, temporary housing, essential goods, and livelihood support for families who have lost their homes and jobs due to the disaster. Another $3.5 million HKD (approximately $450,000 USD) will go to Po Leung Kuk for extending psychological counseling and community outreach, as well as for conducting long-term case follow-ups for survivors and bereaved families.
The structured relief fund is designed to function alongside the Hong Kong government’s emergency response efforts, including temporary housing solutions and ongoing inspections of residential complexes that are undergoing repairs. Through collaboration with these charities, Bitget aims to support families as they confront both immediate needs and the extensive recovery process ahead.
In a statement, Bitget expressed solidarity with the residents of Hong Kong during this challenging time and extended condolences to the families of the victims. The exchange expressed hope that the affected individuals will find the resources and support needed to rebuild their lives and communities promptly and safely.
Bitget was established in 2018 and currently serves over 120 million users, offering a vast array of crypto tokens and real-world assets on its platform. The company prides itself on providing users with advanced trading tools and ensuring seamless interoperability across different blockchain platforms. It has also engaged in strategic partnerships, including being the official crypto partner of LALIGA in various markets and collaborating with UNICEF to enhance blockchain education for millions by 2027.
Through these initiatives, Bitget continues to foster crypto adoption while demonstrating a commitment to corporate social responsibility in times of crisis.
