Will Life Change if Stablecoins are Distributed? Coinbase Begins Granting $18,000 in USDC to Low-Income Individuals

According to Bloomberg, a new support program funded by cryptocurrency exchange Coinbase has launched in New York City. Managed by the nonprofit GiveDirectly, the program randomly selects 160 low-income individuals aged between 18 and 30, distributing a total of $12,000 in stablecoin USDC over five months. This marks the first instance of unconditional cryptocurrency-based support in the United States. The program, named 'Future First,' combines an initial lump sum payment of $8,000 with five subsequent payments of $800 each. GiveDirectly believes that the lump sum payment will enable recipients to cover significant expenses such as education costs and housing...