Binance donated $200,000 in BNB to a Maltese cancer fund in 2018. It’s now $37M — but the funds remain blocked by bureaucracy.
Binance’s $200,000 Donation to Malta Cancer Fund Grows to $37M, Still Undistributed
The $200,000 crypto donation that Binance and exchange users made to the Maltese charity Malta Community Chest Fund (MCCF) in 2018 is now worth about $37M — but the money is still sitting in a wallet, undistributed.
Coinbase’s head of product operations, Conor Grogan, made the announcement in X, urging Maltese people to let their governments know that the funds were still available:
“Maltese, let your government know that this money is available,” Grogan wrote.
How $200,000 turned into $37 million
A donation of 30,644 BNB tokens was worth $200,000 in 2018. Today, at $1,188 per BNB, that’s almost $37 million.
“With the rise in crypto prices, these funds can help even more people,” Binance said in 2021.
But despite the potential benefits, the parties have been unable to agree on how to transfer the funds for several years.
Bureaucracy Kills Charity
In 2021, MCCF even threatened to sue Binance for allegedly “untimely filing,” but later “found” the necessary documents in its own electronic archive.
“The documents were filed in September 2020, they simply went unnoticed,” an MCCF representative told the Times of Malta.
Binance then said it was ready to transfer money directly to patients, but needed to verify the recipients’ medical records and crypto wallets. MCCF declined to disclose this information, citing confidentiality.
The process has since stalled — and the money has not moved in four years.
Binance’s position
Binance insists that donations should be as transparent as possible:
“We believe that transferring funds directly to the final recipients is a prerequisite for transparent charity,” the company said.
MCCF has not yet responded to the exchange’s latest offer. Neither party has commented on the situation in 2025.
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