$39M BNB Cancer Fund Sits Unused Despite Clear Access

Key Points

• $39M BNB Cancer Fund Sits Unused Despite Clear Access
• $200K BNB donation now worth $39 million
• Funds remain untouched in charity wallet since 2018
• Wallet is active, lawsuit dropped in 2021, access confirmed
• Experts say funds could solve Malta’s specialist shortage

In 2018, Binance, one of the world’s largest cryptocurrency exchanges, donated $200,000 worth of BNB to a dedicated wallet for Malta’s terminal cancer fund. It was a groundbreaking example of how crypto can support real-world causes.

Seven years later, that donation has exploded in value. Thanks to the rising price of BNB, the fund is now worth a staggering $39 million. But here’s what’s shocking, the BNB Cancer Fund has never been touched.

Despite this massive growth, the entire 30,644 BNB still sits idle in the wallet. This isn’t due to lost access or a scam. The wallet is active, accessible, and labeled for public view on the blockchain as “Binance Charity: Malta Terminal Cancer Foundation.”

A dashboard view of the wallet shows BNB holdings that ballooned to nearly $39 million. Source: @jconorgrogan on X – Techtokens

It’s a perfect case of crypto’s potential being frozen by bureaucracy—a growing issue that echoes concerns seen in other stalled projects like the G7 stablecoins project.

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The funds were never withdrawn and remain untouched, now worth $39M due to the appreciation of BNB!

Any Malta citizens, please let your government know that these funds are accessible pic.twitter.com/jRqLz7vy4M

— Conor (@jconorgrogan) October 13, 2025

The BNB Cancer Fund Is Accessible, But Still Frozen

Many assumed the BNB Cancer Fund had become inaccessible, a common issue in crypto when private keys are lost. But that theory has been debunked.

Blockchain analysts confirmed the wallet is still live and accessible. Binance acknowledged this in 2021, and the lawsuit that had cast doubts over the fund’s legitimacy was officially dropped the same year. That should have cleared the way for the funds to be used.

A 2021 post confirmed $9.6 million in the donation wallet. Source: @jconorgrogan – Techtokens

At that time, the BNB in the wallet was worth about $9.6 million. Today, it’s worth nearly $39 million, yet not a single BNB has been withdrawn.

This isn’t the first time crypto donations have been stalled. We’ve seen similar inefficiencies across the space, where even highly promising funds or signals get ignored, like Coinbase’s Kimchi premium signal that many investors overlooked.

So why hasn’t this money been used?

Experts point to a mix of regulatory uncertainty, administrative hurdles, and perhaps even lack of awareness by the local authorities.

But while the paperwork gathers dust, Malta’s healthcare system struggles.

The last update we received about these funds was in 2021 pic.twitter.com/FyO7zNsqVk

— Conor (@jconorgrogan) October 13, 2025

Malta’s Healthcare Could Be Transformed

Malta currently has only two palliative care specialists serving the entire nation. Medical standards suggest it needs at least 12 to meet the population’s needs.

This is where the BNB Cancer Fund could literally save lives.

Conor Grogan, an executive at Coinbase, recently called for the funds to be sold and used to hire new medical professionals. His suggestion came as part of a broader discussion around unlocking crypto’s potential for public good.

Even Binance’s co-founder Yi He backed the proposal. She agreed that the BNB Cancer Fund should be converted and used for its original purpose, supporting terminal cancer patients.

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 $39M due to the appreciation of BNB!

Any Malta citizens, please let your government know that these funds are accessible pic.twitter.com/jRqLz7vy4M

— Conor (@jconorgrogan) October 13, 2025

A portion of the $39 million could hire doctors, train specialists, or even build new care units. It’s a life-changing amount of money that’s just sitting there, untouched.

As discussions around crypto’s real-world utility continue, this case will likely become a reference point, much like how Black Friday in crypto markets has become symbolic of market corrections. Here, the fund’s dormancy has become symbolic of systemic inaction.

Crypto Donations: High Potential, Real-World Challenges

The BNB Cancer Fund perfectly illustrates a key tension in the crypto space. On one hand, crypto allows fast, transparent, and traceable donations. On the other, traditional institutions often aren’t ready to manage or deploy them.

This isn’t a unique case. The industry has seen promising projects and financial tools being underutilized because of poor regulation or lack of infrastructure. For instance, despite innovation in DeFi, projects like SNX Price & Perp DEX often face delays in adoption due to complexities in implementation.

As the BNB donation remains untouched, the criticism is growing louder. And for good reason.

The longer the BNB Cancer Fund stays idle, the more pressing Malta’s healthcare issues become. Every year without action means more patients without access to adequate care.

This is also a wake-up call for regulators and policymakers. Crypto is not going away. In fact, public confidence in crypto remains relatively stable despite macro challenges, though that confidence has been shaken in some areas, as seen in the latest data around Bitcoin’s confidence hitting lows.

The question now isn’t about whether the funds exist. Everyone can see them. The question is when will someone finally use them?

This is more than a tech story. It’s a healthcare story. A human story.

The BNB Cancer Fund could be one of the most impactful crypto donations ever made, if it’s finally put to use.