Ripple co-founder gives a $ 25 million donation in XRP to the University of San Francisco

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Chris Larsen, co-founder of San Francisco-based technology company Ripple, and his wife Lyna Lam donated $ 25 million in XRP to a university in California, according to an official announcement on April 5.

Larsen and Lam contributed $ 25 million in XRP tokens to San Francisco State University (SFSU) College of Business through RippleWorks, a private foundation that provides practical support to promising social entrepreneurs.

The university sends funds to support students in studying global business and fintech ecosystems. According to SFSU, donation is the largest contribution in cryptocurrency to a university in the United States. University President Leslie E. Wong said:

"This groundbreaking gift will position the College of Business as an evolving, clearly diverse and industry-relevant epicenter of business innovation and entrepreneurship. Chris, Lyna and Rippleworks are innovators, and their gift will inspire our students to approach business and technical landscapes creatively and strategically to become the next generation of entrepreneurs and international business leaders. "

The move follows the formal social impact program of Ripple, called "Ripple for Good", which was launched last September. The program would work in collaboration with RippleWorks and bundle $ 25 million from the company along with $ 80 million in donations to invest in education and financial inclusion projects.

Ripple has previously made similar donations. Last June, the company unveiled their University Blockchain Research Initiative, consisting of a $ 50 million donation to 17 universities worldwide to support blockchain and cryptocurrencies education.

In March last year, Ripple donated $ 29 million XRP to support US public schools, which meets teachers' funding requests through DonorsChoose charity fund. The money donated was intended to equip more than 30,000 classrooms in all 50 states.

XRP is currently the third largest altcoin in terms of market capitalization. The medal has reached a solid 8.32 percent in the last 24 hours at the time of the press and is currently trading at $ 0.361. Looking at the weekly chart's currency, XRP has risen by nearly 17 percent.

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Written by

Don Bradman

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