Ripple Donates $50 Mln to Universities to Support Blockchain, Crypto Education

Ripple (XRP) has unveiled their University Blockchain Research Initiative (UBRI) consisting of a $50 mln donation to 17 universities globally to support education in blockchain and crypto, Ripple Insights reports June 4.

Ripple will also contribute technical resources and expertise as part of the initiative, allowing the universities to collaborate with Ripple on blockchain research and blockchain and crypto-based curriculum formation.

Among others, Princeton will work with the UBRI to research the policy impact of crypto and blockchain worldwide, UPenn will receive support for MBA-MS candidates for a dual-degree program that allows for work on crypto and blockchain, and the University of Luxembourg will build a blockchain research program.

Earlier this spring, Ripple also gave a donation in XRP worth $29 mln to support public schools through the DonorsChoose charity fund. More recently, Ashton Kutcher donated $4 mln in XRP to Ellen Degeneres’s wildlife fund as a surprise gift while taping her live show.

In May, American law firm Taylor-Copeland Law filed a class action lawsuit against Ripple Labs for selling unregistered securities. The lawsuit targets Ripple, its subsidiary XRP II, and Ripple CEO Brad Garlinghouse. The official complaint states:

“XRP purchasers reasonably expected to derive profits from their ownership of XRP, and Defendants themselves have frequently highlighted this profit motive [...] Given its reliance on sales of XRP, it is unsurprising that Ripple Labs aggressively markets XRP to drive demand, increase XRP’s price, and thus its own profits.”