A donation of BNB cryptocurrency initially valued at $200,000 and intended to support terminal cancer patients in Malta has remained untouched for over seven years. Today, that same donation has grown exponentially in value—worth approximately $36.5 million due to the meteoric rise in the price of Binance Coin (BNB) since 2018. However, despite the substantial gains, the funds have yet to benefit a single patient. The reason? A prolonged stalemate involving unclear disbursement mechanisms and bureaucratic inertia.
The donation was made in 2018 through Binance, one of the world’s largest cryptocurrency exchanges, as part of a charitable initiative supported by the crypto community. The goal was to provide financial aid to terminally ill cancer patients in Malta, an initiative that initially drew praise for its innovation and goodwill. At the time, BNB was trading at a fraction of its current value. With the explosive rise of the crypto market, the untouched funds now represent a life-changing opportunity for many—but remain locked in digital limbo.
According to Conor Grogan, an executive at Coinbase, the donated BNB still resides in the original wallet and has not been accessed or transferred to any beneficiary organization in Malta. He brought renewed attention to the issue by publicly calling for the Maltese government to take action. In his statement, Grogan emphasized that the funds are fully accessible and could immediately be directed toward their intended humanitarian purpose if the necessary steps were taken.
The root of the problem appears to lie in a lack of infrastructure and consensus regarding how the funds should be distributed. Although the donation was well-intentioned, the absence of clear regulatory guidelines for handling crypto-based charity contributions in Malta has effectively frozen the assets. Furthermore, there is no publicly disclosed plan or designated authority responsible for managing or allocating the funds.
This situation raises important questions about the future of crypto philanthropy. While digital assets offer unprecedented potential for global giving—enabling fast, borderless, and transparent transactions—they also present unique legal and logistical challenges. In this case, the transformative power of crypto has been neutralized by regulatory paralysis.
Experts argue that had the funds been managed by a licensed charity or trust with a mandate to handle digital currencies, the situation could have been avoided. Setting up a smart contract-based disbursement schedule or partnering with a crypto-savvy NGO might have ensured timely and efficient use of the funds. Instead, they remain in a wallet, accumulating digital dust while patients continue to face financial hardship.
Some have questioned whether Binance, as the originating platform, bears any responsibility for facilitating the transfer or prompting government engagement. However, without an official recipient or legal framework in place, the platform’s options are limited. Binance cannot legally move the funds unilaterally without risking regulatory backlash or accusations of misappropriation.
Meanwhile, the Maltese government has remained largely silent on the matter. There’s no indication that any official inquiry or plan has been initiated to resolve the situation. This silence has fueled public frustration and raised concerns about the government’s capacity to adapt to emerging financial technologies.
Crypto legal analysts suggest that this case could serve as a pivotal example for governments worldwide. The need for a standardized legal structure for crypto donations is becoming increasingly urgent. Without it, future donations—especially those of significant value—could face similar fates, locked in limbo due to procedural uncertainty.
There is also a human cost that cannot be overlooked. With millions of dollars sitting idle, countless patients in need of palliative care, medication, or basic support continue to suffer. For a country like Malta, where public healthcare resources are limited, these funds could have saved or significantly improved lives.
In light of ongoing public attention, there may still be time to rectify the issue. Advocacy from the local population, pressure from international observers, and renewed engagement from the crypto community could together push the Maltese government into action. The funds are there, the technology is in place, and the need is urgent—the missing piece is the political will.
To move forward, Malta could consider establishing a dedicated task force to assess the legal and logistical steps required to unlock and distribute the funds. This body could include representatives from the government, healthcare sector, legal experts in digital assets, and respected NGOs. A transparent and efficient framework could then be developed to ensure that the $36.5 million is used effectively and ethically.
This incident also serves as a critical lesson for future crypto-based philanthropic endeavors. Donors must ensure that appropriate legal agreements, custodial structures, and disbursement plans are in place before funds are transferred. Likewise, recipient countries and organizations must be prepared to handle digital assets, both technically and legally.
As the crypto landscape continues to evolve, so too must the systems that support its use in charitable giving. With thoughtful planning and proactive governance, the promise of blockchain-based philanthropy can be fulfilled—transforming lives rather than leaving millions stranded in digital wallets.