Memorable Days on the Internet

Siqi Chen, CEO and CFO of Runway, shared a powerful experience on X, reflecting on a remarkable day that tops his internet memories.

Fundraising for a Good Cause

On Tuesday, Chen appealed for donations on X to support the Hankinson Lab at the University of Colorado. This lab uniquely researches children’s craniopharyngiomas, a rare brain tumor affecting his daughter, Mira. With help from notable X users like CEO Linda Yaccarino, Chen’s GoFundMe surpassed $230,000.

The Rise of MIRA

In an unexpected twist, a charity memecoin named MIRA created by a beginner skyrocketed to an astonishing $80 million market cap, leaving Chen astonished. Following the launch, user Waddles sent Chen 50% of the memecoin, which significantly increased in value. Waddles expressed his hope for the SOL community to support Mira’s cause during the holiday season.

Fund Management Plan

Chen announced on Thursday his plan to manage the funds raised, committing to liquidate $1,000 worth of $MIRA every 10 minutes, starting at approximately 3 AM on December 27, UTC. He vowed to announce any changes 24 hours in advance.

Despite some traders profiting without intent to donate, Chen considered the situation a success. He projected raising at least $1 million for rare disease research from an initial target of $200,000.

Market Fluctuations

After Chen’s announcement, MIRA’s value dipped to a market cap of around $20 million. Another related memecoin, kitkat, named after Mira’s dog, briefly reached a market cap of $3 million before settling at about $150,000. Chen reassured that all profits would support rare disease research after tax obligations.

Positive Impact of Charity Coins

Ethereum co-founder Vitalik Buterin previously highlighted charity coins as a positive take on the memecoin trend, while also acknowledging their imperfections. He mentioned the potential to develop something more impactful and sustainable in the charity space.