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Crypto firm pledges $2M to help San Francisco cover APEC summit costs

The widely anticipated APEC summit taking place at the Moscone Center is expected to draw tens of thousands of people to San Francisco. | Source: Jeremy Chen/The Standard

Ripple Labs ponied up the biggest single donation so far to the upcoming Asia-Pacific Economic Cooperation summit in San Francisco, organizers confirmed Saturday.

READ MORE: Google, Kaiser Pitch In To Help San Francisco Meet APEC Summit Fundraising Goal

The $2 million from the blockchain startup co-founded by Chris Larsen brings the fundraising total for the international conference to nearly $11.5 million, according to an APEC spokesperson.

That brings San Francisco just about halfway to its $20 million fundraising goal for APEC costs, which the city isn’t allowed to use public funds to cover. 

READ MORE: Salesforce Among Big-Name Donors to San Francisco’s Upcoming International Trade Conference

Other big-name donors include Kaiser Permanente, Sutter Health, Prologis, MEBO, Visa and Salesforce—each of which contributed $1 million to the event expected to draw tens of thousands of visitors to the city next month. 

Jennifer Wadsworth can be reached at jennifer@sfstandard.com