Dad Raises $14 Million for Brain Tumor Research Through Meme Coin
Siqi Chen's story illustrates the potential of meme coins for social good. His campaign raised $14 million for brain tumor research, demonstrating that these digital assets can contribute to significant causes.
Siqi, founder of Runway, faced a challenge when his 4-year-old daughter, Mira, was diagnosed with craniopharyngioma in September 2024. Although benign, the tumor was located in a vital area of her brain. Following surgery, Mira's health improved. Rather than raising funds for his family, Siqi encouraged donations for children's brain tumor research. An X user named Waddles created a meme coin, MIRA, on Solana to support this initiative, sending half its supply to Siqi.
Waddles aimed to unite the Solana community around a meaningful cause. Siqi committed to donating 100% of MIRA's proceeds to research, selling 1% of his holdings daily and sharing updates online. Contrary to expectations, MIRA’s price increased, driven by community support. Siqi noted the token's value surpassed $14 million.
The narrative spread quickly, with MIRA's market cap exceeding $80 million and trading volumes surpassing $100 million, according to GeckoTerminal. As MIRA's value rose, Siqi could allocate more funding to rare disease research, emphasizing that all gains supported research efforts rather than personal profit.
Despite the success, counterfeit tokens featuring Siqi's family emerged on Pump.fun, highlighting challenges within the crypto space. Nonetheless, MIRA's growth aligns with Vitalik Buterin's view that meme coins can yield societal benefits.
This journey demonstrates that meme coins, such as MIRA, can foster community-driven philanthropy, showcasing their capacity to effect real change.