Ex-president’s aide defends Binance deal, says similar agreements made elsewhere

Various international organisations and local NGOs have accepted and made use of funding from Binance’s charity arm, an aide to former president Marie-Louise Coleiro Preca said.

In comments to Times of Malta, Coleiro Preca’s aide, Carmel Briffa said the former president had worked tirelessly to strengthen charitable initiatives, including the annual fundraiser L-Istrina, and to foster a spirit of national solidarity.

Coleiro Preca oversaw the signing of a 2018 agreement between the Malta Community Chest Fund and Binance’s charity arm for a cryptocurrency donation that has ballooned in value to $39 million (€33 million).

President Myriam Spiteri Debono dismissed the donation as “bogus” last week, as the community chest fund walked away from the agreement following a years-long court battle centred on the use of patient data by Binance.

Prime Minister Robert Abela has since stepped in to try to secure the money from Binance, after criticising the president’s decision to walk away from the donation.

In a 2019 e-mail presented in court, Briffa named the ex-president as the local contact person for Binance’s charity foundation.

Briffa went on to become a director general within the office overseeing Coleiro Preca’s charitable initiatives after she stepped down as president in April 2019.

He told Times of Malta that Coleiro Preca’s dedication, alongside the ongoing efforts of her predecessors and successors, continues to contribute significantly to the well-being of those most in need.

'Decision now entirely in the hands of the president'

“The agreement with Binance Charity Foundation was signed in the same spirit,” Briffa said. Former Community Chest Fund administration chair Marlene Mizzi has described the agreement as “very one-sided” and “not acceptable”.

On his part, Briffa said it is worth noting that various international organisations, such as the United Nations Development Programme, the United Nations High Commissioner for Refugees, UNICEF and even local NGOs, have accepted and made use of funding from Binance’s charity arm.

“These partnerships have provided valuable assistance to a wide range of voluntary organisations dedicated to supporting families, children and vulnerable individuals within the community,” Briffa said.

He said it remains essential to take all factors into account before declining any funds that could ultimately benefit charitable causes, patients and those who rely on such initiatives for support.

“With that, the decision on how to proceed has now been concluded and ultimately rests entirely in the hands of the incumbent president,” Briffa said.