Binance’s $39M Malta donation has stayed untouched for six years
Binance donated $200,000 in BNB to a Maltese cancer charity in 2019 – funds that remain unspent and are now worth $39 million.
According to Coinbase executive Conor Grogan, around $200,000 in BNB donated in 2019 through the Binance Charity Foundation is now worth $39 million, yet the funds still sit unused.
The donation was made to the Malta Community Chest Fund, a charity under the patronage of the country’s president, to support cancer patients. However, a dispute soon emerged: the Maltese fund accused Binance of failing to transfer the pledged funds, while Binance representatives insisted that the money should go directly to patients rather than through intermediaries.
In 2021, the fund filed a lawsuit against Binance, claiming the unpaid donation had already reached $8 million in value due to the BNB price surge. Shortly after, the Maltese regulator – the Office of the Commissioner for Voluntary Organisations – reported being unable to locate Binance Charity Foundation’s financial statements for three years. A few days later, the documents were found, and the investigation was dropped.
The case was eventually closed, and access to the funds was confirmed. However, the tokens still remain in the original wallet, which continues to hold 30,644 BNB, according to on-chain data.
The funds could have helped alleviate Malta’s shortage of medical professionals: according to the Maltese Ministry of Health, the country has only two palliative care doctors instead of the twelve required. Even partial use of the donation could have improved cancer patient care.
Binance co-founder Yi He confirmed Grogan’s findings in a post on X, writing: “Yes, you’re right.” - emphasizing that the funds are available and can still be used.
Recommended