Binanceâs $33M charity donation to Malta was rejected over reputational concerns, sparking political debate among top officials.
Maltaâs political elite are now engaged in a high-stakes game of bureaucratic hopscotch, all thanks to Binanceâs $33 million charity donation. Originally offered in 2018 (when BNB was about as valuable as a damp sponge), the donation has now ballooned to a wallet-busting $33 million. The Malta Community Chest Fund (MCCF) declined it, presumably because theyâre still reeling from the existential crisis of accepting crypto from a company that might or might not have a good name. đ¤ˇâď¸
Finance Minister Supports Rejection Over Reputational Concerns
Finance Minister Clyde Caruana threw his weight behind the MCCFâs decision, citing âreputational concerns.â In a statement that could double as a Zen koan, he said, âYou either give to charity or you donât. Donât dance around it.â Presumably, heâs referring to the MCCFâs refusal to provide patient data like medical records and crypto wallet addresses-which Binance had requested to ensure the funds reached beneficiaries. Because nothing says âtrustâ like demanding someoneâs medical history and wallet address. đ¤
The MCCF rejected 30,644 BNB (originally worth $200k in 2018, now a princely $33 million). Binance, in its infinite wisdom, couldnât send the money without the MCCFâs cooperation. The result? A standoff so absurd it makes a Monty Python sketch look restrained. đ
President Labels Donation as Bogus Amid Trust Concerns
President Myriam Spiteri Debono, ever the skeptic, has labeled the donation âbogus,â claiming Binance Charity has âno good name.â At a school event, she warned that accepting the funds would be unfair to law-abiding donors. One wonders if sheâs ever heard of a charity gala, where the attendeesâ names are often less reputable than Binanceâs. đ¤Ą
Binance, meanwhile, insists it canât release the funds without the MCCFâs paperwork. In 2021, they noted the MCCF hadnât provided crypto wallet addresses or beneficiary documents. Since then, the two parties have been stuck in a loop of polite but unproductive correspondence. Itâs like watching a dog chase its tail, but with more spreadsheets. đđ
Prime Minister and Other Officials Urge Reconsideration
Prime Minister Robert Abela, ever the optimist, expressed âconcernâ over the âmissed opportunity.â He urged the MCCF to revisit their decision, lamenting that âa sum like that⌠could possibly be lost.â One imagines him pacing his office, muttering, âWhereâs the profit in principle?â Opposing lawmakers like Edward Zammit Lewis and Rosianne Cutajar joined the chorus, suggesting the MCCF couldâve âfound a way.â Meanwhile, Opposition leader Alex Borg added his voice, presumably for the sake of balance. đ¤
The donation saga has now metastasized into a national identity crisis. Political figures are taking sides like theyâre choosing teams for a cosmic game of chess, and the $33 million remains unallocated. The future of the funds is as clear as a crypto transaction fee-i.e., nonexistent. đ¸
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2025-10-22 10:22