Source

File: wp-admin/includes/class-wp-community-events.php

protected function cache_events( $events, $expiration = false ) {
		$set              = false;
		$transient_key    = $this->get_events_transient_key( $events['location'] );
		$cache_expiration = $expiration ? absint( $expiration ) : HOUR_IN_SECONDS * 12;

		if ( $transient_key ) {
			$set = set_site_transient( $transient_key, $events, $cache_expiration );
		}

		return $set;
	}