Crypto Cash for New Yorkers: A Social Safety Net Experiment

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.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.