Southern California is facing historic wildfires, devastating tens of thousands of acres and forcing over 100,000 residents to evacuate. Among them, the Los Angeles area, which is home to many crypto companies, is severely affected.
Widespread Wildfires Cause Significant Damage
The fires are driven by strong winds and prolonged drought:
• Pacific Palisades Fire: Erupted in Santa Monica and Malibu, burning down over 1,000 structures.
• Eaton Fire: Devastating hundreds of structures in the Pasadena area.
• Sunset Fire: Large fire in Hollywood Hills, forcing many residents to evacuate urgently.
In addition, other fires such as Hurst, Lidia, Bridge, Turbine, and Viewline continue to erupt in other areas, making it difficult for residents and businesses to respond in time.
Crypto Businesses Heavily Affected
Crypto companies in the area #LosAngeles are at risk of being burned down, including:
• Santa Monica Bitcoin Office: Located just south of the Palisades and Sunset fires, employees here are under direct threat.
• Swan Bitcoin: Previously held the Pacific Bitcoin conference in Santa Monica, now faces a high risk from the fire.
• BlockDaemon and SuperVerse: Two blockchain companies based in Los Angeles are also located near major fire areas.
• Spring Labs: Blockchain development company in Marina del Ray, near the epicenter of the fires.
However, some locations in downtown Los Angeles and crypto recreational spots in Hawthorne and North Hollywood are fortunately still safe.
Significant Challenges in Firefighting Efforts
Firefighters are facing many difficulties in controlling the fires:
• Strong winds are causing the fire to spread rapidly.
• Infrastructure and firefighting personnel are overwhelmed.
• Many areas are lacking water due to depleted fire hydrants.
Additionally, real estate insurance companies are forecasting record losses following this disaster.
The Situation is Very Serious
In addition to physical damages, some members of the #crypto community have lost their homes, belongings, and even hardware wallets storing cryptocurrencies. Notably, the Polymarket platform has sparked controversy by allowing users to bet on the outcomes of the fires, leading to public outrage.
Conclusion: Potential Risks
The wildfire disaster in #California not only affects residents but also causes significant damage to companies and the crypto ecosystem. The current situation poses a difficult problem regarding safety and property protection, while also highlighting the importance of preparedness for unforeseen natural disasters.