Ripple Donate $25 Million To San Francisco State Uni

The co-founder of Ripple, Chris Larsen recently spoke at a San Francisco State University celebration where he announced that the firm would be donating $25 million in XRP to the university. the San Francisco state have said that the Ripple bequest was the biggest crypto donation ever made to a university.

XRP was up more than 13 percent ahead of the open of European markets on Friday the donation to the university was a continuation of Ripple’s University Blockchain Research Initiative, 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.

Charitable Heart

According to Fidelity's 2018 Charity Report, in the year prior, crypto giving came to almost $70 million. The increase in giving was $62 million more than 2016 crypto donations. Donations to Fidelity Charitable of non-public traded assets, such as restricted stock, limited partnership interests and real estate which totalled up to $916 million of all of 2017’s donations.

The report also went on to state that these donations “generated dollars for a charity that potentially would not otherwise be available to give.”

Crypto Giving

With crypto donations becoming slightly more popular in the modern age, non-profit organisations should proceed with caution before just accepting a cryptocurrency donation.

The former head of CME Ventures, Rumi Morales cautioned 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.” He 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.”