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Coinbase funds GiveDirectly to launch a pilot project in New York, distributing $12,000 USDC to 160 young people.
PANews, October 2nd news, according to a report by Bloomberg, a pilot project named "Future First" funded by Coinbase and managed by the non-profit organization GiveDirectly has been launched in New York, aiming to explore the feasibility of direct assistance through Crypto Assets. The project will distribute USDC worth $12,000 to each of the 160 low-income residents aged 18 to 30 selected by lottery. Unlike traditional fixed-term and fixed-amount payments, this project will first distribute a large sum of 8000 USD, followed by five distributions of 800 USD each. It is reported that Coinbase has provided 2.6 million USD in seed funding for this project.