The heartfelt plea made by tech CEO Siqi Chen on Christmas Day to raise funds for research into a rare and dangerous brain tumor afflicting his daughter, Mira, led to an unexpected launch of a cryptocurrency aimed at funding the research in Hankinson Lab to combat rare diseases. Chen’s emotional post detailing his daughter’s condition and the urgent need for research garnered overwhelming support, with donations quickly exceeding the initial goal of $100,000. Chen and his wife pledged to match every additional dollar raised, potentially bringing the total funds to $300,000.
Shortly after Chen’s plea, a cryptocurrency enthusiast created a Solana-based memecoin called $MIRA to further support the fundraising effort. The coin’s value skyrocketed to $400,000 within a short period, with Chen committing to selling a portion of his supply to contribute to the research. He assured transparency in handling the funds, emphasizing that all proceeds from the coin would go directly to rare disease research. Despite initial reservations about the meme coin, Chen’s commitment to integrity and transparency resonated with the community, leading to overwhelming support for the cause.
Mira’s condition, Adamantinomatous Craniopharyngioma, a rare and complex brain tumor, poses significant risks due to its location in a critical area of the brain. Despite the benign nature of the tumor, it is associated with one of the worst quality-of-life outcomes among survivable brain tumors. Mira is currently enrolled in a clinical trial led by Dr. Todd Hankinson at the University of Colorado, aimed at slowing the tumor’s growth. Chen emphasized the groundbreaking work being done by Dr. Hankinson’s lab, reiterating that all funds raised would directly support the critical research.
Chen’s experience sheds light on the intersection of cryptocurrency and biotech sectors, showcasing the growing trend of decentralized science (DeSci). Bio Protocol, a decentralized biotech company, highlighted this shift, emphasizing that science funding would be a major use case for crypto in the coming cycle. The organization, comprising Biotech Decentralized Autonomous Organizations (BioDAOs), aims to address funding gaps in rare diseases, longevity research, and emerging health challenges. Binance Labs, the venture capital arm of Binance, has invested in Bio Protocol to expand its network and support innovative projects.
Through the introduction of intellectual property non-fungible tokens (IP-NFTs), Bio Protocol and its BioDAOs facilitate the sale of scientific and intellectual property, fostering collaboration and innovation within the DeSci ecosystem. Projects like VitaDAO, focusing on longevity research, have attracted support from major pharmaceutical companies, demonstrating the growing impact of decentralized funding in the biotech space. With the success of projects like HairDAO and Matrix Biosciences under Bio Protocol’s umbrella, the DeSci movement is gaining momentum, paving the way for advancements in medical research and innovation.
