Saturday, May 21, 2022
HomeSchoolsSan Francisco State University Receives $25 Million Cryptocurrency Gift

San Francisco State University Receives $25 Million Cryptocurrency Gift


San Francisco State University has received what is believed to be the largest gift ever made in a digital asset to a university in the U.S.

The $25 million in XRP cryptocurrency donation came from alumnus Chris Larsen and his wife Lyna Lam’s Rippleworks, a nonprofit foundation launched in 2015, to support the “Lam-Larsen Fund for Global Innovation” and two endowed chairs.

The University has also announced that it will change the name of College of Business to the “Lam Family College of Business,” and that the gift will propel the school in the direction of making students change-makers of the local and global entrepreneurial world.

“This groundbreaking gift will position the College of Business as an evolving, distinctly diverse and industry-relevant epicenter of business innovation and entrepreneurship,” Leslie E. Wong, university president, said.

“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.”

Larsen, who is a graduate of the College of Business and co-founder of Ripple, a global blockchain company, has supported past initiatives at the university as well.

Last year, the university received a similar gift from alumni George and Judy Marcus to support the College of Liberal & Creative Arts, including its renowned School of Cinema and its Department of Creative Writing.

University of the Cumberlands Starts Degree in Blockchain Technology

You Might Also Like

Latest Posts

8 Ways College Students Can Shrink Their Carbon Footprint

It's never too early to start an eco-friendly lifestyle. Here are some cheap, accessible, and effective ways college students can reduce their carbon footprint.

Walmart Program Promises $200K Salary to College Grads

A new program at Walmart will train college graduates for future store manager positions where they can earn over $200,000 a year.

Wyoming Senator Apologizes for Transphobic Graduation Speech

Wyoming’s first-ever female senator drew backlash for transphobic comments in her graduation address at her alma mater.