Author: Felix, PANews
On January 8, local time, severe wildfires occurred in Los Angeles and surrounding areas, destroying thousands of homes and burning over ten thousand hectares. So far, the fire has burned more than 15,000 acres of land, forcing nearly 180,000 residents to evacuate, with an additional 200,000 receiving evacuation orders.
The rapidly spreading fire threatens not only millions of California residents but also several cryptocurrency companies and members of the crypto community. In fact, many have already lost their homes and possessions, including hardware wallets.
Southern California cryptocurrency companies and users affected
The wildfires have burned more than 15,000 acres in Southern California, including major areas like Pacific Palisades, Malibu, and Pasadena. In addition to residences, several cryptocurrency companies have also been affected.
Staff members at the Santa Monica Bitcoin office are located just south of the ravaged Palisades and Sunset. Several Swan Bitcoin staff hosting the Pacific Bitcoin Conference in Santa Monica are also south of the fire.
Blockchain service provider BlockDaemon is headquartered in Los Angeles, as is the cryptocurrency game developer SuperVerse. The blockchain-based ID and tokenization company Spring Labs is based nearby in Marina del Rey. These companies reported significant losses, including the destruction of hardware wallets containing cryptocurrency assets.
Some companies have been luckier. So far, the Crypto.com Arena (a cultural landmark in Los Angeles) has not caught fire. Crypto entertainment venues DaBank (Hawthorne) and Jungla (North Hollywood) have also been spared from the wildfires.
However, the wildfires have impacted not only crypto companies but also cryptocurrency users, with some residents losing their crypto wallets in the fires. Crypto KOL Monty stated on the X platform that his 70-year-old aunt lost her apartment in the fire in Los Angeles. Most of her savings were in cryptocurrency, but she lost her wallet and mnemonic phrase, with no backups. Comments indicate that her wallet primarily held Bitcoin.
Non-profit organizations are accepting cryptocurrency donations
To provide assistance to those affected, some charities and non-profit organizations offering aid locally are accepting cryptocurrency and stock donations.
The cryptocurrency donation platform The Giving Block launched an 'Emergency Response Fundraising Campaign' to donate to non-profit organizations actively assisting in the Los Angeles wildfire rescue efforts. This fundraising campaign allows the public to choose from seven non-profits to donate cryptocurrency.
This includes the Los Angeles Fire Foundation, the Los Angeles Regional Food Bank, the First Responders Children’s Foundation, Global Empowerment Mission, the San Diego Humane Society, All Hands and Hearts, and Direct Relief.
During the fundraising efforts, the platform encourages the public to help as much as possible by donating cryptocurrency, stocks, DAF (Donor-Advised Funds, allowing donors to set up DAF accounts for immediate tax benefits and suggestions on fund usage), or cards to organizations providing food, shelter, and medical services.
Another donation platform focused on cryptocurrency, Givepact, shared details about foundations accepting cryptocurrency asset donations.
This includes Baby2Baby (a charity that provides diapers and clothes for children in low-income families), the Wildfire Fighters Foundation, the California Fire Foundation, the Los Angeles County Animal Care Foundation, and the California Community Foundation.
The platform stated that the public can donate more than 30 types of cryptocurrency to these charities and non-profits, including Bitcoin, Ethereum, Avax, and Dogecoin.
Prediction platform betting labeled as 'morbid'
It is worth mentioning that a prediction platform was questioned for its 'morbid' predictions during the wildfires, as several users on the platform created various prediction markets related to the fires, predicting the spread of the flames, when they would be controlled, and potential political resignations. One X user claimed: "Betting on wildfires is morbid," while another user stated that betting on such tragedies is "undoubtedly shameless." Some users even expressed concern that in order to win bets, it might encourage gamblers to start more fires.
In response, the platform issued a disclaimer stating: "The devastating Palisades fire is one such event where the platform can provide valuable real-time answers for those directly affected, something traditional media cannot do."