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|3 min ReadBinance’s 2018 Malta charity gift grows to $37M
Carter Hayes
Senior Analyst
Published
Jan 16, 2026
The dormant windfall
A 2018 crypto donation to a Maltese cancer charity has turned into a fortune. It has not moved. It has not helped a single patient.
Conor Grogan at Coinbase flagged it on X. https://x.com/jconorgrogan/status/1977819703579132263 He pointed to a wallet that received 30,644 BNB during a Binance Charity drive. Back then, it was worth about 37 million. Tremendous appreciation. Zero distribution.
“Any Malta citizens, please let your government know that these funds are accessible,” Grogan wrote.
Source: Conor Grogan
From 37 million
Price did the heavy lifting. Binance said in 2021 that the gains mean more people can be helped, if the funds move. The exchange wrote that “due to the price appreciation of these crypto assets, these funds are now able to help even more people in need,” in a statement on its site: https://www.binance.com/en-AU/blog/charity/421499824684902453
The relationship with Malta’s Community Chest Fund has been rocky. In 2021, the charity threatened legal action over alleged failure to file accounts for 2018 to 2020. Days later, the filings were reportedly found and the threat was withdrawn:
“The documents were submitted in September 2020 and were found in an electronic folder. Any inconvenience is regretted,” an MCCF spokesperson told the Times of Malta.
Why it is stuck
Since 2021 the holdup has centered on verification. Binance says it needs patient details to transfer directly to end beneficiaries. That means medical bills and wallet addresses. According to the Times of Malta, the MCCF has refused to share the data the exchange requires, citing its own concerns, and the process stalled. Coverage here:
Binance has framed direct transfers as non-negotiable for transparency and efficiency. In its 2021 note it said:
“Regrettably, when donation plans were submitted to BCF on 24th November 2020, the plans did not include the end-beneficiaries’ crypto-wallet addresses that were necessary to enable BCF to transfer donations in accordance with the terms.”
What Binance says now
A Binance spokesperson told Cointelegraph that the company “will ensure these funds are spent in Malta” and thanked “Malta for its past support of Binance.” The message is simple. The money will go to Maltese patients. The mechanism must be direct. Everybody knows it, transparency builds trust.
Disclaimer: This document is intended for informational and entertainment purposes only. The views expressed in this document are not, and should not be taken as, investment advice or recommendations. Recipients should do their own due diligence, taking into account their specific financial circumstances, investment objectives and risk tolerance, which are not considered here, before investing. This document is not an offer, or the solicitation of an offer, to buy or sell any of the assets mentioned.