Malta’s Finance Minister Clyde Caruana has endorsed the decision of a government-operated charity to turn down a significant $33 million donation from Binance due to concerns about its reputation.

Caruana backed the Malta Community Chest Fund’s move to decline the donation of 30,644 BNB, originally valued at about $200,000 in 2018, now worth approximately $33 million. He emphasized, “You either give to charity or you don’t. Don’t dance around it.”

This decision follows reports that the charity walked away from the donation citing ethical issues surrounding the donation’s origin. Binance, on the other hand, has stated they will not finalize the donation without access to critical patient information necessary for the direct disbursement of the funds.

Malta’s President Spiteri Debono previously described Binance’s contribution as a “bogus donation,” raising questions regarding the sincerity of Binance Charity. She highlighted that acceptance would be unfair to other legitimate donors adhering to applicable regulations.

Spiteri Debono Source: Wikimedia

The conflict over the donation dates back to 2018 when Binance and its supporters contributed BNB to the Malta Community Chest Fund intended for terminally ill cancer patients. Since 2021, Binance has awaited necessary verification of patient data through the charity, which has refused to share crucial information.

In mid-October, Prime Minister Robert Abela urged the charity to reevaluate its stance on the donation, expressing his frustration that such substantial funds might not be utilized effectively. He appealed for a collaborative resolution.

The issue has now infiltrated political debates in Malta, with several members of parliament, including Edward Zammit Lewis and Rosianne Cutajar, echoing similar sentiments as Abela.