160 New Yorkers get $12,000 in USDC as Coinbase's crypto‑UBI pilot begins

160 people in New York City are now receiving $12,000 each in crypto through a five‑month cash transfer program funded with money that came from Coinbase. The funds did not come directly from the exchange this year. Coinbase donated the money to a nonprofit after shutting down its own philanthropy program two years ago, and that nonprofit is now running the pilot. The payments are going out in USDC, a stablecoin that tracks the U.S. dollar. The goal is simple on paper. Move real money to real people using crypto rails and track what happens. The program started in September and will end in February. Each of the 160 participants began receiving $800 per month in USDC at the start of the pilot. On top of those monthly payments, every participant also received a one‑time $8,000 lump sum in November.When the five months are finished, each person will have collected...

https://www.cryptopolitan.com/160-new-yorkers-12000-crypto-usdc-coinbase/