tl;dr
A dormant $39 million BNB donation from 2018 to Malta's terminal cancer patients remains unclaimed, sparking legal battles and calls for government action as crypto advocates highlight transparency gaps in charitable crypto funds.
**Malta’s Unclaimed $39 Million BNB Donation Sparks Calls for Action**
A dormant cryptocurrency donation of $39 million in Binance’s native token, BNB, has reignited calls for accountability in Malta, as Coinbase director Conor Grogan urges citizens to demand action from their government. The funds, originally donated in 2018 to support terminal cancer patients, have remained untouched in a digital wallet for years, according to Grogan’s on-chain analysis.
In a recent post on X (formerly Twitter), Grogan highlighted the situation, stating, *“In 2018, Binance and crypto users donated $200,000 in BNB to Malta Terminal Cancer Patients. The funds were never withdrawn and remain untouched, now worth $39 million due to the appreciation of BNB! Any Malta citizens, please let your government know that these funds are accessible.”*
The charity initiative was a partnership between Binance’s Blockchain Charity Foundation (BCF) and the Malta Community Chest Fund (MCCF). At the time, 30,644 BNB—equivalent to approximately $200,000—were donated to the cause. However, the funds have since appreciated dramatically, with BNB’s current price of $1,215 (down 5.5% in 24 hours) valuing the holdings at $39 million.
The donation’s fate has been mired in legal disputes. The MCCF accused Binance of failing to fulfill obligations, including filing required documents, while Binance claimed the MCCF did not provide the necessary crypto-wallet addresses for beneficiaries, as stipulated in the agreement. A 2021 statement from Binance expressed hope for a “mutually beneficial path forward,” but the issue remains unresolved.
Grogan’s analysis suggests the tokens still reside in a single account, untouched since 2018. The lack of action has sparked frustration among crypto advocates, who argue that the funds could have provided critical support to Maltese patients. “This isn’t just about money—it’s about transparency and ensuring charitable efforts in the crypto space are honored,” Grogan wrote.
The Malta Community Chest Fund has not publicly commented on the matter, leaving the status of the donation in limbo. Meanwhile, BNB’s recent price fluctuations underscore the volatile nature of crypto assets, raising questions about the urgency of accessing the funds before further value is lost.
As Grogan urges Maltese citizens to contact their government, the situation highlights the challenges of integrating cryptocurrency into traditional charitable frameworks. With billions in crypto assets reportedly unclaimed worldwide, the Malta case serves as a cautionary tale about the need for clear legal and procedural guidelines to ensure such donations benefit their intended recipients.
For now, the $39 million BNB remains a symbol of both the potential and the pitfalls of crypto-driven philanthropy—a call to action for Malta to reclaim what it is owed.