Degen Insider Is Brought To You By Menace.com Crypto Sportsbook & Casino
Sup fellow degens,
Today, I want to tell you a little bizarre yet beautiful story of how small mistakes lead to happy endings. And this story is about crypto, and we all need a little bit of good news during these challenging times…
At the centre of today’s story are three key players:
Player A: Malta’s Terminal Cancer Fund
Player B: Binance, Malta’s Community Chest Fund, and countless generous crypto users
Player C: Conor Grogan, Coinbase executive
Let’s start this story, shall we?
What happened in 2018?
So Binance’s charity arm, the Blockchain Charity Foundation, teamed up with Malta’s Community Chest Fund during the “Blockchain Island” phase. This was 2018, and the idea was to show everyone how crypto could save the world and solve real social issues.
They managed to pull in around 30,000 BNB + a few random coins here and there.
All to help around 15,000 cancer patients fund their treatments.
Basically a stunt that I will call: “look, crypto can be good too”. And it was a great initiative that showed that crypto can be used for the right reasons.
But things took a sharp turn afterwards…
Fast forward to 2020
Malta’s Community Chest Fund starts a legal battle with Binance because they can’t find the money…I guess nobody explained to them how to access this crypto donation…
Binance was accused for backing up and trying to silently take the donation back but in 2021, the lawsuit was dropped after finally figuring out how to access the donation!
Here is a pickle, tho. The charity fund just went ahead and, for some reason, never used that money that they so desperately needed.
Regardless of why they didn’t use the money, here enters Conor Grogan, Coinbase executive, who decided to check what happened with the donation after all these years:
The fund, realising those numbers on a screen are not just numbers
Was the fund secretly onto something and knew that crypto is about to explode all along? Did they do this on purpose or just forgot?
But now, with these news in public, people have concerns of just what is about to happen to all those money.
Concerned citizen
It’s messy, it’s absurd, and somehow still kind of wholesome.
A bunch of digital coins meant to help cancer patients sat untouched through bull runs and bear markets and slowly growing.
However, this degen story makes me think about all those patients who could’ve gotten treatment sooner, all that help that could’ve changed lives just waiting in a wallet nobody knew how to open.
Or maybe someone knew how to open, but chose not to…
A little sad, don’t you think?
TL;DR: Binance’s charity wing and Malta’s Community Chest Fund raised about 30,000 BNB back in 2018 to help cancer patients. The funds sat untouched for years because no one figured out how to access them. Fast forward to now, the wallet’s still full and worth $39M. A crypto feel-good story with a bittersweet twist: profits went up, but time ran out for the people it was meant to help.
Stay degen,
Dima
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