Co-Founder Of Ripple Donates $25 Million In XRP To San Francisco University

The co-founder of Ripple has recently made a big donation to a university in California, according to an announcement which circulates in the latest cryptocurrency news and was initially published on April 5.

As per the announcement, Chris Larsen and his wife Lyna Lam have donated $25 million worth of the altcoin XRP to the San Francisco State University (SFSU) College of Business through RippleWorks which is a private foundation that provides practical support to promising social entrepreneurs.

The millions worth of XRP tokens will be used by the university to support students studying global entrepreneurial and fintech ecosystems. According to SFSU, the donation is the largest contribution made in cryptocurrency to a university in the United States. As the president of SFSU 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.”

The move also follows Ripple’s formal social impact program which is dubbed “Ripple for Good” which launched last September. The program was set to operate in collaboration with RippleWorks and in that way pool $25 million from the firm together with $80 million in donations to invest in projects which are focused on education and financial inclusion.

This is nothing new for Ripple. The company has previously donated in similar ways. For example, last June it unveiled their University Blockchain Research Initiative consisting of a $50 million donation to 17 universities globally, supporting education in the field of blockchain and cryptocurrencies.

Currently, XRP is the third largest altcoin in terms of market capitalization. It has recently gained more than 8% over the past 24 hours, climbing to $0.361 and being up by 17% in its weekly performance.