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The San Francisco State University was thrown into wild jubilation on Thursday, April 4 when it celebrated the largest gifts it ever received. This was in response to its BOLD Thinking campaign proposed to amass a total of $150 million.
The State University, which was founded in 1899, boasts tons of alumni and alumnae who are leaders in their various fields. Therefore, it was a little bit less of a shocker that two alumni decided to donate $25 million each to the school. One of such donations was made by the co-founder of Ripple, Chris Larsen, through the crypto coin called Ripple (XRP). This is the largest gift the university or any other university in the United States ever received in digital assets.
Larsen graduated from the university’s College of Business, and hence decided to make his donation to the department. Besides being the co-founder of Ripple, Larsen is also the co-founder of the first ever peer-to-peer lending platform in the United States, Prosper.
Addressing the crowd at San Francisco’s Masonic Center, the President of San Francisco State University, Leslie E. Wong, told his audience that a world-class city like San Francisco deserves a world-class university. He stressed that the university has birthed lots of alumnae who are working, living, and driving positive change in several fields across the globe.
He added that the occasion was, indeed, called for as it is a time to celebrate the University and the future of its students as well as their friends & families and every investment made in the school.
Commenting on the first-of-its-kind donation made by Larsen, President Wong asserted that the huge sum will help to position the College of Business as an evolving, diverse, and indispensable hub of business innovation and entrepreneurship in the world. The funds will be primarily focused on teaching students how to creatively and strategically explore the business and FinTech landscapes with the hopes of building them into the next generation of entrepreneurs and business leaders in both the U.S. and the world at large.
Although it is yet pending approval from the California State University Board of Trustees, President Wong plans on naming the University’s College of Business “The Lam Family College of Business” as part of his appreciation to Larsen and his wife and the Ripple Foundation.
Another huge donation celebrated that night was the $25 million donation made by George and Judy Marcus. George and Judy met at the university and have been supporting the university for quite a while now. Their donation was made to support the growth of the University’s College of Liberal & Creative Arts.This is, indeed, one of the largest donations the school has ever received. The BOLD Thinking campaign now boasts about 91% of its $150 million goal.
This isn’t the first connection between Ripple and a university. Last year, Ripple has partnered with 11 universities in order to promote crypto and blockchain research.