$20,000 Binance Contribution To Malta Increases To $39M, Stays Unclaimed: Coinbase Executive
In 2018, Binance along with crypto asset contributors donated $200,000 to Malta’s cancer fund. This contribution has since surged to approximately $39 million, yet it still remains unclaimed.
Conor Grogan from Coinbase has called on residents of Malta to inform their government, emphasizing that these funds could be utilized to cover medical specialists’ expenses.
In 2018, Binance and crypto asset enthusiasts contributed $200,000 in BNB for Malta’s terminal cancer patients.
These resources have remained untouched and now amount to $39M due to BNB’s increase in value!
Maltese citizens, please alert your government that these funds are available pic.twitter.com/jRqLz7vy4M
— Conor (@jconorgrogan) October 13, 2025
The most recent announcement came in 2021 when a legal case was dismissed once the funds were located.
This situation originated in 2018 during Malta’s initiative to become a blockchain hub. Binance had committed $200,000 in BNB to the Malta Community Chest Fund, with additional contributions aimed at aiding cancer patients and people with disabilities.
With rising crypto asset prices, the total value exceeded $8 million by 2021. Binance subsequently announced the discontinuation of the foundation to prevent redundant expenses, as a similar organization was already operating in the US.
Malta’s charity oversight body later threatened legal action regarding absent annual reports but discovered the required documents shortly after in a digital folder.
The case was dismissed and efforts toward a resolution progressed. Throughout all this, the donated funds remained untouched.
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$38 Million Binance Donation For West Japan Disaster Lays Dormant
In a situation akin to Malta, Grogan disclosed that $38 million from a Binance contribution intended for West Japan’s disaster assistance is idle in a dormant crypto wallet. Of the $1.4 million donated in 2018, the authorities progressively withdrew half, and the remaining portion has appreciated over 50 times in value.
Grogan expressed his desire for the authorities to utilize the funds effectively.
Here’s another case: $38M allocated for West Japan Disaster Relief is lying in a dormant digital wallet.
It appears that around 50% of the original $1.4M donated was withdrawn at different times in 2018. The leftover 50% has increased in value by over 50x.
Hopefully, this can be put to good use! https://t.co/sg5OIltqO4 pic.twitter.com/xSmkMf4F3M
— Conor (@jconorgrogan) October 14, 2025
This revelation occurs as Binance continues to expand its global charitable initiatives under the leadership of CEO Richard Teng and Co-Founder Changpeng Zhao, often referred to as CZ in the crypto community.
This April, CZ contributed 1000 BNB, equating to nearly $600,000, to aid earthquake recovery in Myanmar and Thailand. At that time, Binance Charity facilitated a $1.5 million BNB airdrop, providing $50 to verified users in Myanmar and $10 to those in the most affected areas of Thailand.
Sent 1000 BNB as a donation for Myanmar and Thailand. https://t.co/3b9ngdEGta https://t.co/cdvVTvzP3F
— CZ
BNB (@cz_binance) April 3, 2025
Moreover, in August, Binance initiated a new relief initiative with funding of up to $1.2 million in BNB for flood victims in Southern Taiwan. Verified individuals in the impacted areas received $80, while 15,000 newly validated users were each granted $30.
Teng remarked that Binance Charity has also provided assistance to disaster victims in Taiwan, Turkey, Argentina, and throughout Europe.
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Malta Pushes Back On EU Crypto Reforms
Simultaneously, Malta is contesting a suggestion from France, Italy, and Austria aimed at enhancing the European Securities and Markets Authority (ESMA) with greater authority to oversee major cryptocurrency firms throughout the EU.
While Malta’s Financial Services Authority (MFSA) advocates for improved strategic alliance among national regulators, it contends that centralizing oversight under ESMA would introduce unnecessary bureaucratic processes that would hinder prompt decision-making.
Malta’s financial regulator, the MFSA, is resisting a proposal to bestow ESMA with direct supervisory powers over cryptocurrency firms. France, Italy, and Austria maintain that centralized regulation is essential due to inconsistent MiCA…
— Adya Crypto
Meanwhile, France has also expressed worries about the lack of uniformity in crypto licensing across EU nations, cautioning that it may obstruct firms licensed elsewhere from conducting business within its territory.
In July, ESMA had critiqued Malta’s approach to crypto licensing after a peer assessment revealed that the MFSA only partially met criteria when authorizing cryptocurrency service providers.
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Key Takeaways
- Binance’s contribution to Malta has risen from $20K to $39M but remains unclaimed
- Likewise, $38M designated for Japanese disaster relief also sits unused in a dormant crypto wallet
- Malta opposes the expansion of ESMA’s jurisdiction to directly oversee major cryptocurrency firms across the EU
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