Unclaimed BNB Donation to Maltese Charity Now Worth $39 Million
Conor Grogan, Head of Product Business Operations at Coinbase, revealed that $200,000 worth of BNB tokens donated in 2018 remain unclaimed. The tokens were given to a Maltese government charity fund supporting terminally ill cancer patients. Due to BNB’s price rise, the donation is now valued at about $39 million.
Grogan shared this information in a post on X. The donation was part of Binance’s 2018 charity campaign during Malta’s “Blockchain Island” era. The Malta Community Chest Fund Foundation, managed by the Office of the President of Malta, received the funds. Binance and other crypto users contributed to the fund.
Funds Could Support Medical Specialists’ Salaries
Grogan emphasized the potential impact of the unclaimed funds. He said they could cover full salaries for needed medical specialists. He urged Maltese citizens to contact their government to ensure the funds are used properly.
Background on the Dormant Funds and Legal Issues
Grogan noted the last update on the funds was in 2021. At that time, Coinbase faced a lawsuit from the Malta Community Chest Fund over delayed fund release. The lawsuit sought to unlock the appreciated assets for medical aid.
The lawsuit was dismissed after the discovery of the donated money. However, Maltese officials have not provided official updates on the funds since then.
At donation, BNB was worth about $10 per token. Today, BNB trades near $1,248, according to CoinMarketCap. This represents an almost 12,000% increase, creating a significant unrealized gain for Malta’s healthcare system.
