Chris Larsen, the co-founder of the leading blockchain company Ripple, has recently stated that he has donated, along with his wife Lyna Lam, $25 million in XRP to San Francisco State University.
As per this announcement made on April 5, the contribution of Larsen and Lam was made to SFSU College of Business through RippleWorks, a private foundation that provides practical support to promising social entrepreneurs. According to some reports, this generous contribution is the largest donation in cryptocurrency to a US-based university. It will enable students to study global entrepreneurial and fintech ecosystems.
From his part, E. Wong, University President stated:
“This groundbreaking gift will position the College of Business as an evolving, distinctly diverse and industry-relevant epicenter of business innovation and entrepreneurship. Chris, Lyna, and RippleWorks are innovators, and their gift will inspire our students to creatively and strategically approach the business and tech landscapes to become the next generation of entrepreneurs and global business leaders.”
The San-Francisco-based blockchain company has already been interested in donating to the university arena. In addition, Larsen has been a supporter of San Francisco State University. Actually, he attended the university where he earned a Bachelor of Science in international business and accounting in 1984. Moreover, the family member has attended the university. As a result, SFSU is now planning to rename the college of business to Lam Family College of Business. The plan will be finalized by the California State University Board of Trustees in the near future.
On the same context, the blockchain firm is expanding its support to education in terms of blockchain awareness and poverty eradication. During May last year, it has donated around $50 million to 17 universities around the globe via Ripple’s University Blockchain Research Initiative (UBRI).