Father Pledges $1M to Most cancers Analysis After Charity Meme Coin Skyrockets to $80M Market Cap

The daddy of a younger woman 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 woman’s analysis impressed Chen to publish 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 publish gained widespread consideration, prompting a Pump.enjoyable consumer to create the MIRA token.

The cryptocurrency gained fast 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 value hundreds of thousands.

Waddles shared his motivation on X, explaining that he hoped to rally the Solana neighborhood to help a significant trigger throughout 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 replace, 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 technique to liquidate the funds responsibly. He revealed his plans to promote $1,000 value of MIRA each 10 minutes indefinitely, promising to present 24 hours discover if the schedule modified.

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

Regardless of some merchants benefiting from the coin with out contributing to charity, he emphasised the initiative’s total constructive affect. Initially aiming to lift $200,000, he confirmed they’d exceed this aim considerably, finally donating at the very 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 woman’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 publish, he expressed optimism that such tokens may evolve into significant initiatives, benefiting the crypto ecosystem and society whereas difficult the notion that these belongings are ineffective or perpetuate dangerous stereotypes.