Ripple Co-Founder Donates $25 Million in XRP to US University
Ripple co-founder and executive chairman Chris Larsen, his wife Lyna Lam and nonprofit foundation Rippleworks have donated $25 million in XRP cryptocurrency to San Francisco State University.
The university announced the news on Friday, saying that the donation is the “largest gift ever made in a digital asset” to a university in the U.S.
The funding will be allocated to the university’s College of Business in order to support students in becoming “changemakers of local and global entrepreneurial and fintech ecosystems.”
Leslie E. Wong, president of San Francisco State University, said:
“This groundbreaking gift will position the College of Business as an evolving, distinctly diverse and industry-relevant epicenter of business innovation and entrepreneurship.”
In honor of the donation, the university is also planning to change the name of the College of Business to the Lam Family College of Business, pending approval from the California State University Board of Trustees, according to the announcement.