PANews reported on November 27 that MicroBit Asset Management Limited (or MicroBit Asset) announced an emergency donation of US$100,000 (approximately HK$780,000) to the Hong Kong Youth and Student Power Foundation to fully support the disaster-stricken communities in Tai Po, Hong Kong.

MicroBit representative Fung King-ting stated, “The devastation of the Tai Po fire has touched the hearts of every Hong Kong citizen. As a financial institution rooted in Hong Kong, we hope this donation will provide immediate and tangible assistance to the community, helping affected families overcome their difficulties and paying tribute to the brave firefighters and rescue personnel on the front lines. We firmly believe that the development of technology and finance should ultimately serve society, and MicroBit will continue to support such charitable initiatives and fulfill its corporate social responsibility.”

The Hong Kong Youth and Student Power Foundation has innovatively opened up a dual-track channel of "bank fiat currency transfer" and "virtual asset donation" to connect the power of traditional philanthropists with the Web3 community. All proceeds from this fundraising campaign will be donated to community residents and frontline workers affected by the fire.