Father Pledges $1M to Cancer Research After Charity Meme Coin Skyrockets to $80M Market Cap

The daddy of a younger lady battling a uncommon mind tumor has pledged $1 million to fund analysis into her situation after an sudden cryptocurrency windfall.

Siqi Chen, CEO of startup finance platform Runway, introduced the donation after the charity meme coin, named after his daughter Mira, soared to an all-time excessive market capitalization of $80 million.

Chen’s Pledge

The lady’s prognosis impressed Chen to post a plea on X earlier within the week, asking for donations to help the Hankinson Lab on the College of Colorado, a analysis facility specializing in uncommon mind tumors. The submit gained widespread consideration, prompting a Pump.enjoyable user to create the MIRA token.

The cryptocurrency gained speedy traction, reaching an all-time excessive market capitalization of $80 million. One notable supporter, an X consumer named Waddles, bought and transferred 50% of the MIRA provide to Chen, immediately making his stake within the coin price tens of millions.

Waddles shared his motivation on X, explaining that he hoped to rally the Solana neighborhood to help a significant trigger in the course of the vacation season. He additionally expressed his happiness that issues had labored out as they did and hoped that the funds would contribute to discovering a remedy for these with the situation.

In a December 26 update, Chen expressed his gratitude, calling it “probably the most memorable day on the web” in his 30 years on-line. The tech government then outlined a method to liquidate the funds responsibly. He revealed his plans to promote $1,000 price of MIRA each 10 minutes indefinitely, promising to present 24 hours discover if the schedule modified.

“100% of each penny we’ve constituted of this, throughout each kitkat/meme coin, together with LP charges, might be going on to uncommon illness analysis,” Chen mentioned.

Regardless of some merchants making the most of the coin with out contributing to charity, he emphasised the initiative’s general constructive impression. Initially aiming to boost $200,000, he confirmed they’d exceed this aim considerably, finally donating at the least $1 million to uncommon illness analysis.

The Charity Meme Coin

Because the announcement, MIRA has declined in worth, stabilizing at a market capitalization of roughly $14 million on the time of writing. One other token, “kitkat,” named after the younger lady’s canine, briefly reached a $3 million market cap earlier than falling to round $111,000.

Ethereum co-founder Vitalik Buterin beforehand highlighted charity-driven meme cash as a “positive-sum” innovation throughout the meme coin development.

In a March weblog submit, he expressed optimism that such tokens may evolve into significant tasks, benefiting the crypto ecosystem and society whereas difficult the notion that these belongings are ineffective or perpetuate dangerous stereotypes.