Link: Memecoin MIRA, created to fund research into a brain tumor affecting tech CEO Siqi Chen's daughter, hit an $80M market cap before falling as Chen began selling (Zack Abrams/The Block)

Siqi Chen, a tech CEO, launched a plea for donations after his daughter was diagnosed with a rare brain tumor, leading to over $1 million in donations. The funds were raised through a charity memecoin named MIRA, inspired by his daughter.

Initially, Chen's plea on social media platform X gained significant traction, raising over $230,000 for Hankinson Lab's research into children's craniopharyngiomas.

A user from Pump.Fun created the MIRA memecoin, which reached a market cap of $80 million, and with further support, Chen received half of the coin's supply.

Chen announced plans to steadily liquidate his memecoin supply, promising at least $1M to brain tumor research, while maintaining a controlled and transparent process.

Despite the memecoin's value decline following Chen's announcement, the initiative has been deemed a success with substantial funds directed towards medical research.

Ethereum co-founder Vitalik Buterin acknowledged charity coins as beneficial, suggesting they represent a positive development in the memecoin sector.

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