Chris Larsen donates $25 million in XRP.
Ripple was recently in the spotlight again after co-founder Chris Larsen donated $25 million in XRP.
The official announcement revealed that they donated $25 million worth of XRP to the San Francisco State University’s College of Business via RippleWorks which is a private foundation that provides practical support to new entrepreneurs.
The University will be using these funds to offer support to students who are studying global entrepreneurial and fintech ecosystems.
This was a continuation of Ripple’s University Blockchain Research Initiative (UBRI), which was announced in June of 2018. The UBRI committed $50 million in resources that included funding, subject matter expertise and a technical resource to 17 institutions across the globe.
The goals of the initiative are to:
- Collaborate on research and technical development that will stimulate widespread understanding and innovation in the blockchain.
- Create a new curriculum to meet high student demand for learning about blockchain, cryptocurrency, and other FinTech topics.
- Stimulate ideas and dialog among students, faculty, technologists and business leaders on topics of shared interest.
Of course, giving of this magnitude and concerned instruments means that there’s someone with an opinion of caution.
The former head of CME Ventures, Rumi Moralescautioned against charities rushing to accept crypto donations saying, “If you simply want to jump in because you’ve heard the buzz about it, I would caution anyone against accepting buzz over real money.”She then went on to say, “Bitcoin and digital currencies can be accepted at some type of value, but as we’ve seen, it can be very volatile.”