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When news broke of the devastating fire at Wang Fuk Court in Tai Po, the scale of the loss stunned Hong Kong. Families searched for loved ones, emergency crews worked through smoke and debris, and entire residential towers carried the marks of a disaster that left more than a hundred people dead. In the days that followed, the community sought ways to support those whose lives had been overturned. One of the latest efforts comes from Bitget, which announced a $1.54 million USD relief fund for affected residents.
Bitget’s Donation Aims to Offer Immediate and Practical Aid
Bitget, known as a major player in global digital finance and referred to by the company as the world’s largest universal exchange, said it would contribute $12 million HKD—about $1.54 million USD—to support families who lost relatives, homes, or income as a result of the November 26 fire. The blaze, classified as a five-alarm emergency, spread through several towers of the Wang Fuk Court residential estate, leaving at least 128 people dead, injuring more than 70, and forcing more than 900 residents into temporary shelters.
Authorities have since launched criminal and anti-corruption investigations related to renovation work and material safety. Emergency teams remain on duty as they assist families in locating missing relatives and assessing structural damage.
Bitget stated that the relief fund is structured to ensure the money arrives where it is most urgently needed. Instead of distributing funds directly, the company is channeling the entire donation through three long-established Hong Kong charities, each assigned a specific set of responsibilities to support both short-term needs and longer-term recovery.
How the Relief Fund Will Be Distributed
The $12 million HKD contribution is divided among three organizations trusted for their accountability and presence in the community.
Yan Chai Hospital
Yan Chai Hospital will receive $5 million HKD—about $640,000 USD—to support emergency medical needs. The funds will cover treatment for the injured, extended care for those with severe conditions, and rehabilitation services for families coping with long-term physical impacts.
The Salvation Army Hong Kong
The Salvation Army Hong Kong will administer $3.5 million HKD—around $450,000 USD—to help families displaced from their homes. Its responsibilities include temporary housing support, financial assistance, and access to essential supplies. Many residents lost not only their homes but also their primary source of income, and the organization will focus on providing them with basic stability during this period.
Po Leung Kuk
Po Leung Kuk will receive the remaining $3.5 million HKD—also about $450,000 USD—to focus on psychological counselling, community outreach, and long-term case follow-up. Survivors and bereaved families are expected to require sustained emotional and social support, and Po Leung Kuk will manage these efforts.
Charities Take the Lead in Delivering Targeted Support
The charities involved have long operated in Hong Kong, and Bitget emphasized that their experience is central to ensuring that funds are used responsibly. Each dollar, the company said, has been allocated with the assurance that it will be deployed transparently and without delay.
The goal is for the fund to complement the emergency measures already in place. This includes temporary shelters arranged by the Hong Kong government, ongoing inspections of residential buildings under repair, and broader efforts to determine the causes of the fire. By working through established charities, Bitget aims to support community rebuilding in a way that avoids duplication and keeps attention on essential needs.
The company noted that the fund is meant to support residents through the difficult weeks immediately following the tragedy and also during the longer, more complex recovery period. Families who lost homes will need sustained assistance, and those dealing with trauma or long-term medical treatment will require continued care.
Bitget’s Response As Part of Wider Concerns Across the Digital Finance Sector
The company said that its decision reflects a sense of responsibility toward communities that make up its user base. Bitget has a broad presence in Asia, including in Hong Kong, where many of its users and partners live or work. The company’s involvement also ties into a wider trend of digital finance firms addressing community needs during major crises.
Within the fintech sector, companies have increasingly been expected to respond not only as market participants but also as contributors to public welfare during emergencies. Bitget said its action follows this expectation and reflects the company’s internal view that global financial platforms must support communities when they face severe hardship.
Leadership Emphasizes the Need for Timely and Transparent Aid
Gracy Chen, Bitget’s CEO, expressed the view that the donation is intended to provide real relief to families going through an extremely difficult period. In her comments, she said the company wanted the support to reach residents quickly and transparently. Chen added that, in her view, digital finance companies carry responsibilities similar to those traditionally held by major financial institutions.
She noted that many members of the Bitget community—users, partners, and employees—live in Hong Kong, and the tragedy felt personal within the organization. She described the relief fund as part of a commitment to assist not only during moments of growth but also during moments of collective loss. Her remarks pointed to the idea that, for Bitget, this contribution is not expected to be a one-time effort.
Ongoing Recovery Work Continues As Residents Seek Stability
As relief efforts expand, the situation at Wang Fuk Court remains challenging. Many residents are still searching for clarity about the status of missing family members. Investigators continue examining the property’s renovation history, while engineers review building integrity. Temporary housing facilities remain full as families wait for news on whether their apartments can be restored or whether they will need to relocate.
Local organizations say the need for psychological support is growing. Families who escaped the fire have spoken—through rephrased accounts shared by aid workers—about the shock of the event and the uncertainty they now face. Social service teams continue offering guidance, helping residents handle documents, financial concerns, and school arrangements for children.
Charities receiving the Bitget funds will coordinate closely with government teams and local aid groups to avoid gaps in support. Medical outreach programs are expected to continue for months as hospitals treat burns, respiratory injuries, and trauma-related conditions.
Community Response and The Broader Significance of the Relief Fund
The Wang Fuk Court fire has led to reflection across Hong Kong on building safety, emergency preparedness, and community support. The reaction from local and international groups has underscored the collective effort required after such a tragedy.
Bitget’s donation adds to this broader response. While financial support cannot undo the loss, the fund is designed to reduce immediate burdens on families. By directing the aid through well-known institutions, the company aims to make the recovery process more manageable for people who suddenly lost their homes or loved ones.
Community organizations say that as recovery continues, long-term support will be essential. Housing transitions, medical follow-ups, and emotional care often extend well beyond the initial emergency period. The allocation of the relief fund acknowledges these realities by dividing resources between immediate assistance and longer-term rebuilding.
Looking Ahead
Residents affected by the Wang Fuk Court tragedy continue to face uncertainty, but relief efforts from government and charities are working to address immediate needs. The introduction of Bitget’s $1.54 million USD fund adds another layer of support at a time when families are looking for stability.
As investigations proceed and rebuilding plans take shape, the focus remains on ensuring that survivors and bereaved families receive the assistance required to rebuild their lives. Bitget has stated that its goal is to help provide that support with accountability and respect for those facing one of the most difficult moments in recent Hong Kong history.
