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Crypto Alert: Coinbase Executive Highlights Unclaimed $39 Million BNB Donation

Coinbase executive Conor Grogan recently drew attention to a significant sum of Binance's BNB tokens that remains unclaimed.

The pile amounts to $39 million and is tied to a charitable initiative from 2018 aimed at supporting terminal cancer patients in Malta.

Grogan emphasized the need for Malta's citizens to urge their government to access the funds, which were donated by Binance and other crypto users.

Initially, the amount donated was $200,000 in BNB, but its value has skyrocketed due to the appreciation of the token.

The partnership between Binance’s Blockchain Charity Foundation and the Malta Community Chest Fund has faced legal hurdles, leading to complications in accessing these funds.

Binance has expressed optimism about resolving these disputes, aiming for a mutually beneficial solution.

Grogan's on-chain analysis confirmed that a total of 30,644 BNB remains in the account, waiting to be utilized for its intended purpose.

At present, BNB is trading at $1,215, having seen a decrease of 5.5% in the last 24 hours.

This situation illustrates the complex dynamics of cryptocurrency donations and the need for clarity in the processes governing them.

As the legal issues unfold, the potential of unlocking this charitable fund could provide significant support to those in need on the island.