Crypto Cash for New Yorkers: A Social Safety Net Experiment
Update: 2025-11-24
Description
New Yorkers receive cryptocurrency as financial assistance in a pilot program funded by Coinbase. The nonprofit GiveDirectly distributes $16,000 in crypto to 160 residents, focusing on low-income areas like the South Bronx and East Harlem. This initiative aims to explore if cryptocurrency can serve as an effective social safety net, with larger, shorter-term payments potentially leading to better outcomes.
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