In 2018, Binance and crypto users donated $200,000 worth of BNB to the terminal cancer fund in Malta. Today, that donation would be worth an incredible thirty-nine million dollars because of the token’s huge appreciation. However, the funds remain unclaimed, and Coinbase executive Conor Grogan is urging Maltese citizens to alert the government about their availability.
The generous donation was made in 2018 to help the terminally ill with cancer in Malta. However, as of now, the funds have not been withdrawn. The donation was originally valued at $200,000 in BNB at the time of donation, but due to the huge price increase of BNB, it is now worth a much higher value of $39 million.
Grogan, who first highlighted the unclaimed funds, has urged Maltese nationals to tell their government the funds are still there. He noted that the funds would be of great assistance, especially in the healthcare sector, which would include full salaries for highly needed medical specialists. The funds could have a significant impact on the quality of cancer care in Malta.
The funds were originally part of a charitable initiative led by Binance and the crypto community, but after being left alone for a while, the funds faced legal hurdles. A lawsuit relating to the funds was dropped in 2021 after the donation was finally found, but since then, little has been done to claim or use the money. Despite this, Grogan is optimistic that public awareness and governmental intervention could ensure that the funds are put to good use for the intended cause.
BNB’s strong market performance
The BNB coin itself has made a phenomenal comeback after recent market turbulence. After reaching a new all-time high of $1,357.88 on Monday, BNB remained resilient, trading around $1,275 at the time of writing. The asset has gained more than 46% in the past 30 days and a whopping 135% gain in the past 12 months.
Binance founder Changpeng Zhao (CZ) said on Monday that the strong performance of BNB Coin is driven by true market demand, with no intervention from market makers. The strong performance and quick recovery of BNB after a market dip demonstrate the long-term prospects of the Binance Coin as an investment and charitable tool. The $39 million value of BNB reflects the strength of digital assets in both the market and the philanthropic space.
This story of BNB and Malta is just one example of how cryptocurrencies are becoming more and more frequently used for charitable purposes. CZ recently made headlines with his $11 million donation in BNB to the Giggle Academy, a global initiative to provide free education to children.
According to the Giggle Academy, all donations will be used for community building, creator incentives, ecosystem building, and product promotion. The project’s concept paper proposes a system in which teachers can add educational content and reward the best performing, with the next one “rising to the top.”
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