Overview

• Distribution began last week through Coinbase wallets, with each participant set to receive $12,000 in the USDC stablecoin.
• Branded as Future First, the program selected 160 New York residents ages 18 to 30 by lottery.
• The payment design combines an $8,000 lump sum with five additional deposits of $800 to support larger one-time expenses.
• GiveDirectly is administering the pilot, saying USDC transfers cost pennies per payment and can be cashed out to banks, spent via debit, withdrawn at ATMs, or left to earn interest.
• Funding comes from $2.6 million redirected by Coinbase, and researchers will survey outcomes while critics flag risks such as stablecoin depegging and speculative use.