Co-founder of technology company Ripple Chris Larson and his wife, Lina Lam, donated $ 25 million to a University of California.
Larson & Lom contributed an XRP token worth $ 25 million through the Replay works of the San Francisco State University (SFSU) College of Business, a personal foundation that provides practical support to promising social entrepreneurs.
The university will direct funds to support students who study global entrepreneurship and fintech ecosystem According to SFSU, charity is the largest single contribution made to a university in cryptocurrency in the United States. University President Leslie E. Wong said:
“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.”
This step is called Ripple’s formal social impact program called “Wave for September”, which was launched last September. This program was set to be operated with the help of RippWorks, and to fund the $ 25 million pool from the firm with $ 80 million in donations to invest in projects focused on education and financial inclusion.
Ripple has made similar donations before. In June last year, the company unveiled its University Blockchain Research Initiative, which donated $ 50 million to 17 universities globally to support education in blockchain and cryptocurrency.
In March of last year, Ripple US Donated $ 29 million XRP to support public schools, through funding DonorsChoose charity funding teachers’ requests. The donated money was set up to equip more than 30,000 classes in all 50 states.
XRP is currently the third largest altcoin in terms of market capitalization. In the last 24 hours, the coin has gained 8.32 percent on the press-time and is currently trading at $ 0.361 Given the weekly chart of coins, XRP is approximately 17 percent.