Coinbase director Conor Grogan is calling attention to a million-dollar pile of Binance’s native token, BNB, that has sat unclaimed for years.
In a new post on X, Grogan urges citizens of Malta to start asking their government for the BNB that was donated to those suffering from terminal cancer on the southern European island in the Mediterranean Sea.
Says Grogan,
“In 2018, Binance and crypto users donated $200,000 in BNB to Malta Terminal Cancer Patients. The funds were never withdrawn and remain untouched, now worth $39 million due to the appreciation of BNB! Any Malta citizens, please let your government know that these funds are accessible.”
BNB is a digital asset created and backed by the crypto giant Binance, and the charity initiative was launched as a partnership between Binance’s Blockchain Charity Foundation (BCF) and the Malta Community Chest Fund (MCCF).
However, the two partners became entangled in a legal dispute with MCCF accusing Binance of not living up to its obligations to file certain documents, while Binance accused the MCCF of not providing “the end-beneficiaries’ crypto-wallet addresses” to make the donations, as required under the agreement terms.
In a 2021 statement, Binance said it was hopeful to “find a mutually beneficial path forward.”
There were donated a total of 30,644 BNB to the fund, which remain in the account, according to Grogan’s on-chain analysis.
BNB is trading at $1,215 at time of writing, down 5.5% in the last 24 hours.
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