160 Low-Income New Yorkers Selected to Receive $12,000 in USDC Through GiveDirectly & Coinbase
- Theo Rynn
- Oct 7
- 1 min read
Updated: Oct 17
A new pilot program, run by GiveDirectly in collaboration with Coinbase, will select 160 low-income New Yorkers by lottery to receive a $12,000 stipend in USDC.
Participants will receive payments in six installments – an initial $8,000 lump sum, followed by five monthly deposits of $800 each.
While $12,000 may only go to a small group, this amount is 10 times larger than the average COVID stimulus check. It’s also not the first time Coinbase has launched similar programs.
The real test?
What would you do with $12,000 in USDC?
Since the funds are distributed in crypto, cash becomes slightly less accessible – and more costly to acquire.
Do you immediately convert to cash, despite the costs of ID verification, withdrawal fees, and other barriers?
Or do you hold for the 4% yield, buy Bitcoin, or even go all-in on memecoins?
The physcology of money – tested in real time
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