US university receives $25 million cryptocurrency gift, reshapes business school

San Francisco State University accepted a $25 million philanthropic gift in April 2019, primarily composed of XRP cryptocurrency, in what represented one of the largest digital asset donations to a US educational institution at the time.

The contribution prompted the university to formally rename its business school the Lam Family College of Business, reflecting the donors' substantial support for the institution. The gift facilitated the establishment of new academic programmes and resources within the college, enhancing its capacity to serve students and faculty.

The donation marked a continuation of the donors' longstanding commitment to San Francisco State University. Prior to this major gift, the benefactors had contributed over $800,000 to support various university initiatives, demonstrating sustained philanthropic engagement with the institution.

The 2019 donation highlighted a growing trend of high-net-worth individuals using cryptocurrency holdings for charitable purposes, particularly in the US education sector. The transaction underscored evolving approaches to institutional fundraising as digital assets gained prominence among philanthropists seeking tax-efficient giving mechanisms.