Chris Larsen is an American businessman and entrepreneur who co-founded Ripple Labs, the company behind the XRP cryptocurrency. Born on August 26, 1960, in San Francisco, California, Larsen has had a long and successful career in the technology and finance industries.
Larsen attended San Francisco State University, where he earned a Bachelor’s degree in International Business and Accounting. After graduation, he worked as a tax accountant for several years before moving on to the technology industry.
In 1996, Larsen co-founded the online mortgage lender E-Loan, which was one of the first companies to offer online mortgages. E-Loan was a major success and went public in 1999, with Larsen serving as its CEO until 2005.
After leaving E-Loan, Larsen co-founded Prosper Marketplace, which was one of the first peer-to-peer lending platforms in the United States. He served as the company’s CEO until 2012.
In 2012, Larsen co-founded OpenCoin, which later became Ripple Labs. The company’s main product is the XRP cryptocurrency, which is used in Ripple’s payment network to facilitate cross-border transactions.
As of 2021, Larsen’s net worth was estimated to be around $3.4 billion, mostly due to his holdings in Ripple.
Larsen has also been involved in various philanthropic endeavors throughout his career. He has donated millions of dollars to organizations such as the San Francisco Museum of Modern Art, the University of California San Francisco, and the Clinton Foundation.
Overall, Chris Larsen is a successful entrepreneur and business leader who has made a significant impact in the technology and finance industries.
Here is a timeline of Chris Larsen’s life and career:
1960: Chris Larsen is born in San Francisco, California.
1984: Larsen graduates from San Francisco State University with a degree in international business and accounting.
1996: Larsen co-founds the online mortgage lender E-Loan, which later goes public and is eventually sold to Banco Popular in 2005.
1999: Larsen co-founds the peer-to-peer lending company Prosper, which allows individuals to lend and borrow money without going through a traditional financial institution.
2012: Larsen co-founds OpenCoin, which later becomes Ripple Labs. Ripple develops a blockchain-based payments protocol that allows for fast and cheap cross-border transactions.
2013: Ripple raises $2.5 million in seed funding from investors including Andreessen Horowitz, Google Ventures, and IDG Capital Partners.
2015: Ripple raises $28 million in a Series A funding round led by Andreessen Horowitz.
2016: Ripple raises $55 million in a Series B funding round led by Standard Chartered and Accenture.
2018: Larsen’s net worth briefly makes him one of the wealthiest people in the world as the value of Ripple’s XRP token skyrockets. However, the cryptocurrency market experiences a significant decline, and Larsen’s net worth subsequently drops.
2021: The SEC files a lawsuit against Ripple, alleging that XRP is a security and that Ripple conducted an unregistered securities offering. The case is ongoing.
|Co-founder||Ripple Labs||Executive Chairman|
|Development of Ripple payment protocol||Ripple Labs||Co-founder|
|Wealthiest cryptocurrency billionaire||N/A||Estimated net worth of $2.1 billion in 2018|
Despite the ongoing legal battle, Larsen continues to be an influential figure in the cryptocurrency and blockchain industries.
Here are 5 interesting facts about Chris Larsen:
- Chris Larsen was the co-founder and CEO of Ripple, a company that developed the XRP digital currency and blockchain platform.
- Prior to founding Ripple, Larsen co-founded several other successful technology startups, including E-LOAN, a pioneer in online lending, and Prosper, a peer-to-peer lending marketplace.
- In 2018, Larsen was named one of Forbes’ richest people in cryptocurrency, with a net worth estimated at $7.5 billion.
- Larsen is known for his philanthropy and commitment to social causes, particularly in the areas of education and financial inclusion. In 2015, he and his wife donated $25 million to his alma mater, San Francisco State University, to support entrepreneurship and innovation.
- Larsen has been a vocal critic of Bitcoin and other proof-of-work-based cryptocurrencies, arguing that they are environmentally unsustainable and inefficient compared to proof-of-stake-based systems like Ripple.
And here are 5 quotes from Chris Larsen:
- “Money is ultimately just information, and the internet was built to move information around. Cryptocurrencies are a natural evolution of that.”
- “Financial exclusion is one of the biggest problems facing the world today, and it’s not going to be solved by the traditional banking system. That’s where blockchain technology comes in.”
- “We’re not trying to replace the existing financial system, but rather to make it more efficient and inclusive.”
- “The traditional banking system is ripe for disruption. It’s slow, expensive, and exclusive. We’re trying to create a more open and accessible financial system for everyone.”
- “Blockchain technology has the potential to revolutionize not just finance, but virtually every industry in the world. It’s an incredibly exciting time to be working in this space.”