The San Francisco State University announced Friday that it had received a donation to the tune of $25 million worth of XRP from Chris Larsen, the co-founder of Ripple, his wife Lyna Lam and Ripple’s foundation, Rippleworks.
The latest donation which the announcement labels the “largest cryptocurrency donation” it has received so far, brings the University’s fundraising campaign “BOLD Thinking” to more than 91 percent of its $150 million goals, including the $25 million lead contribution.
Announcing the contribution, Leslie E. Wong, the University President, said,
“Chris, Lyna, and Rippleworks are innovators, and their donation 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.”
Further, he noted that the landmark contribution will help the College of Business to evolve and to become distinctly diverse in business innovation and entrepreneurship.
As a way of appreciating the large donations, the SF state university is also planning to rename the University’s College of Business to the “Lam Family College of Business”. However, it would have to wait for approval from the California State University Board of Trustees to do so.
Ripple Continues Crypto Journey to Mainstream
The latest development, though outside the cryptocurrency market marks another small but significant step as cryptocurrencies continue the march to mainstream acceptance.
In other notable events regarding cryptocurrencies penetrating into the global ecosystem, Coinfomania reported that the Thai Stock Exchange has plans to launch what would become one of the first national cryptocurrency exchange.
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