Father donates $1M for brain tumor research through crypto

Siqi Chen, CEO of finance platform Runway, has pledged $1 million to fund research on rare brain tumors after a charity meme coin named after his daughter, Mira (CRYPTO:MIRA), reached an $80 million market cap.

The initiative began when Chen posted on X, seeking donations for the Hankinson Lab at the University of Colorado, which specialises in rare brain tumor research.

The post gained traction, prompting a Pump.fun user to create the MIRA token.

The cryptocurrency quickly gained value, with a supporter named Waddles purchasing and transferring 50% of the token's supply to Chen, making his stake worth millions.

On December 26, Chen expressed gratitude, describing the event as “the most memorable day on the internet” in his 30 years online.

To ensure responsible liquidation, he announced plans to sell $1,000 worth of MIRA every 10 minutes, with 24-hour notice for any changes.

“100% of every penny we’ve made from this... will be going directly to rare disease research,” Chen emphasised.

Initially aiming to raise $200,000, Chen confirmed the target would be surpassed significantly, with at least $1 million earmarked for research.

Despite some traders profiting without contributing, Chen highlighted the overall success of the initiative.

The MIRA token's value has since stabilised at a $14 million market cap, while a related token, "kitkat," briefly hit a $3 million valuation before dropping to $111,000.

Ethereum (CRYPTO:ETH) co-founder Vitalik Buterin has previously noted the potential of charity-driven meme coins.

In a March blog post, he described them as a “positive-sum” innovation, suggesting such tokens could create meaningful contributions to both the crypto ecosystem and broader society.