Conor Grogan, a high-ranking executive at Coinbase, revealed that a donation of $200,000 in BNB made in 2018 by Binance and crypto users to Malta’s terminal cancer fund remains unclaimed — and thanks to price appreciation, it’s now worth about $39 million. Grogan urged Maltese citizens to pressure their government to retrieve the funds, noting that a related lawsuit was dropped in 2021 after the funds were located.
Key points at a glance
- The original donation: $200,000 in BNB in 2018
- Current estimated value: ~$39 million, based on BNB’s rise over time
- Lawsuit status: Dropped in 2021 after the funds were found to be accessible
- Grogan’s appeal: He called on Maltese citizens to alert their government of the unclaimed assets, emphasizing the funds could support medical efforts, including full salaries for specialist doctors
The story behind the donation
The 2018 donation and its purpose
In 2018, Binance along with crypto enthusiasts donated 200,000 BNB tokens to support Malta’s terminal cancer patient fund. The intention was to pool crypto resources to aid healthcare in Malta. However, the donation was never withdrawn or distributed as intended.
Over time, BNB’s price appreciated significantly. The original value of roughly $200,000 has ballooned to an estimated $39 million, according to Grogan.
Litigation & fund access
Grogan notes that a lawsuit concerning the funds was filed, but was later dropped in 2021 after it was determined the donated BNB was accessible and not lost or irretrievable.
Despite being “found,” the funds remain untouched and unclaimed. Grogan’s recent posts and comments suggest that the Maltese public and authorities may not be fully aware of their availability.
Grogan’s appeal & the potential impact
Grogan made a public appeal urging Maltese citizens to pressure their government to act, highlighting that the donated crypto could meaningfully support healthcare in Malta. He especially emphasized that the funds “could cover the full salaries of needed medical specialists.”
The core of his argument is that a once‐modest donation, had it been withdrawn and deployed earlier, could now deliver much more substantial support due to crypto appreciation. The unclaimed status of the funds represents both a missed opportunity and a legal/administrative puzzle.
Reactions & challenges ahead
Government & public awareness
It remains unclear how responsive or aware the Maltese government1 and public are to Grogan’s appeal. For the funds to be used, government or institutional action will likely be needed to claim and legally disburse them.
Legal, regulatory, and custodial issues
- Ownership & control: Who has the legal right to withdraw or allocate the BNB?
- Compliance & regulation: Converting millions in crypto into fiat or reimbursements within Maltese law may require regulatory steps or oversight.
- Governance & transparency: Ensuring that the funds, once claimed, are used as intended (for healthcare, terminal cancer patients) will necessitate accountability measures.
Timing & volatility
Given crypto markets’ volatility, further delay could mean the value swings significantly — both up or down — meaning the cost of inertia may be high.
Why this matters
- Symbolic & moral weight: This case illustrates how early crypto philanthropy can evolve into major funding potential over time through appreciation.
- Governance & accountability lessons: Unclaimed funds, especially in crypto, pose unique challenges around transparency, control, and institutional oversight.
- Healthcare funding potential: If accessed and allocated, such funds could make a meaningful difference in resource-constrained realms like specialist medical staffing or treatments. (Bonus BTC 2: 3WU72TXS)
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