160 New Yorkers Get $12K in USDC in Coinbase Crypto-UBI Pilot
On Nov. 29, 2025, organizers confirmed that 160 New York City residents have begun receiving $12,000 each in USDC as part of a five-month cash-transfer pilot tied to a Crypto‑UBI initiative. The program is funded with money that traces back to Coinbase, though this year’s distributions did not come directly from the exchange itself. Recipients are getting on‑chain stablecoin transfers intended to provide predictable, liquid support over the pilot period.
The experiment matters because it tests stablecoins as a practical vehicle for recurring, targeted cash assistance and highlights how exchanges and crypto-originated capital can influence social programs without direct corporate payouts. If successful, the pilot could prompt more on‑chain welfare experiments and sharpen regulatory focus on stablecoin use for public-interest funding. For participants, immediate access to USDC lowers frictions versus traditional banking, while observers will watch distribution mechanics and compliance closely.