New York is giving $12,000 in crypto payments to low-income youth
After years of talk about crypto’s “real world” potential, a group of New Yorkers is about to find out what it looks like in practice.
A new Coinbase-backed pilot program called Future First is handing out $12,000 in cryptocurrency to 160 low-income residents, testing whether stablecoin aid can work as effectively—or better—than traditional cash transfers.
Recipients chosen by lottery, are all between 18 and 30 years old. Each one will get an $8,000 lump sum followed by five additional $800 payments, delivered in USDC, a dollar-pegged stablecoin. The funds are distributed through Coinbase…
