$20,000 Binance Donation To Malta Grows To $39M, Remains Unclaimed: Coinbase Exec

In 2018, Binance and cryptocurrency donors donated $200,000

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Coinbase’s Conor Grogan urged Maltese citizens to inform their government, saying the money could pay for medical specialists.

In 2018, Binance and crypto users donated $200,000 in BNB to terminal cancer patients in Malta.

The funds were never withdrawn and remain intact, now worth $39 million thanks to the BNB revaluation!

All Maltese citizens are asked to let their government know that these funds are accessible pic.twitter.com/jRqLz7vy4M

— Conor (@jconorgrogan) October 13, 2025

The last known update was in 2021, when a lawsuit was dropped after the funds were found.

This all started in 2018, during Malta’s push to become a blockchain island. Binance then pledged $200,000 in BNB to the Malta Community Chest Fund, with further donations added for cancer patients and people with disabilities.

As cryptocurrency prices increased, the total value reached exceeded $8 million by 2021. Binance then reiterated that it would close the foundation to avoid duplicative costs, since a similar one already existed in the United States.

Malta’s charity watchdog later threatened legal action over the lack of annual reports, but found the documents days later in a digital folder.

The lawsuit was dismissed and the dispute finally moved towards a resolution. Meanwhile, the donated funds remained intact.

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The $38 million donation on Binance for the West Japan disaster is inactive

Similarly in Malta, Grogan revealed that $38 million of a Binance donation, earmarked for Western Japan disaster relief, remained unused in a dormant wallet. Of the $1.4 million donated in 2018, authorities withdrew half over time, and the remaining half grew to more than 50 times its value.

Grogan said he wants authorities to make good use of the funds.

Here’s another: $38 million in Western Japan disaster relief funds are in a dormant wallet.

It appears that approximately 50% of the original $1.4 million donated was withdrawn in 2018 at various times. But the remaining 50% appreciated more than 50 times.

Let’s hope something good can come from all this! https://t.co/sg5OIltqO4 pic.twitter.com/xSmkMf4F3M

— Conor (@jconorgrogan) October 14, 2025

The discovery comes as Binance continues its global charitable efforts under the leadership of CEO Richard Teng and co-founder Changpeng Zhao or CZ as he is known in the cryptocurrency world.

This year, in April, CZ donated 1,000 BNB, worth nearly $600,000, to support earthquake recovery in Myanmar and Thailand. During this time, Binance Charity added $1.5 million via BNB airdrop, sending $50 to verified users in Myanmar and $10 to those in the hardest-hit areas of Thailand.

Sent 1000 BNB for donation for Myanmar and Thailand. https://t.co/3b9ngdEGta https://t.co/cdvVTvzP3F

—CZ BNB (@cz_binance) April 3, 2025

Additionally, in August, Binance launched another relief program worth $1.2 million in BNB for flood victims in southern Taiwan. Verified users in the affected cities received $80, while 15,000 newly verified users received $30 each.

Teng noted that Binance Charity has also helped disaster victims in Taiwan, Türkiye, Argentina and across Europe.

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Malta rejects EU crypto reforms

Meanwhile, Malta opposes a proposal by France, Italy and Austria to give the European Securities and Markets Authority (ESMA) more power to directly regulate major cryptocurrency companies across the EU.

While the Malta Financial Services Authority (MFSA) supports better coordination between national regulators, it argued that centralizing control under ESMA would add unnecessary bureaucracy to speed up decision-making.

Malta rejects ESMA’s crypto surveillance plan

Malta’s financial regulator, the MFSA, is opposing a proposal to grant ESMA direct supervisory powers over crypto firms. While France, Italy and Austria argue that centralized supervision is necessary due to the inconsistency of the MiCA…

— Adya Crypto (@Adya_crypt) September 19, 2025

Meanwhile, France has also expressed concern about the inconsistency of crypto licensing across EU countries, warning that this could prevent companies licensed elsewhere from operating within its borders.

In July, ESMA criticized Malta’s cryptocurrency licensing process after a peer review found that the MFSA had only partially met expectations in approving cryptocurrency service providers.

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The post $20,000 Donation on Binance in Malta Grows to $39 Million, But Remains Unclaimed: Coinbase Exec appeared first on 99Bitcoins.