Bay Area Startup, Ripple Donates $25 Million To San Francisco State University.
Chris Larsen, the co-founder The San Francisco based Blockchain Company Ripple Network donates $25 million in XRP to a university in California reports SF State News.
Chris Larsen and his wife Lyna Lam donated $25 million in XRP to San Francisco State University’s (SFSU) College of Business.
The donation came through Ripplesworks, a non-profit foundation launched in 2015 by Doug Galen and Chris Larsen. Rippleworks aims at supporting promising start-ups around the globe through cryptocurrency. The donation is the largest donation made in digital currency to a university in the United States. The donation came in response to the BOLD THINKING Campaign set to raise funds for major investments in programs, initiatives and infrastructure.
In other to show appreciation to Larsen and Lam, SF State plans to name the University’s College of Business the Lam Family College of Business. This is still awaiting pending approval from the California State University Board of Trustees.
Rippleworks intends to work in collaboration with Ripple’s Social Impact Program dubbed ‘Ripple for Good’ , launched last September. The program is set to support projects aimed at education and financial inclusion.
Another significant donation made by Ripple was the $50 million donation to 17 Universities to support Blockchain and Cryptocurrency education. And also a $29 million donation to over 30,000 universities in the US.
Ripple is the third largest cryptocurrency by market capitalization with 15,025,162,803 USD total market cap. And a 24 hours trading volume of over $1.3 billion.