It has recently been revealed that 24 states in the US are experimenting with the idea of providing basic income to those in need, without any conditions attached.
More than $200 million has been allocated to US people
Over $200 million has been allocated for various pilot programs across the country.
According to Mashable, California has the most basic income trials, with programs distributing money in cities such as Los Angeles, Compton, Long Beach, Marin County, Mountain View, Oakland, Santa Clara County, San Diego, San Francisco, Sonoma County, and Stockton.
These trials have been supported by a $35 million initiative signed by California Governor Gavin Newsom, which guarantees income for five years.
Below is a list of states that have already launched or plan to launch basic income programs:
• Alabama
• Arizona
• Colorado
• Florida
• Georgia
• Illinois
• Indiana
• Louisiana
• Maryland
• Massachusetts
• Michigan
• Minnesota
• Mississippi
• New Jersey
• New Mexico
• New York
• North Carolina
• Pennsylvania
• Rhode Island
• South Carolina
• Texas
• Virginia
• Washington
A basic income trial in Denver, which cost $1.8 million, has shown promising early results. Participants received between $600 to $12,000 per year and reported using the money to cover basic needs.
They also reported a decrease in stress levels and an increase in hope for the future.
The latest news from the crypto market
During the period between January 1, 2019, and January 27, 2023, the Network Contagion Research Institute (NCRI) conducted a study on 18 cryptocurrencies previously listed on FTX, which were traded by Alameda Research, FTX’s hedge fund arm.
The study analyzed over three million tweets and revealed that Sam Bankman-Fried, FTX’s former head, recognized the significant influence of Twitter on cryptocurrency prices.
The study highlights a concerning trend in the crypto industry, where social media hype often results in inflated market capitalizations, surpassing the intrinsic value of the assets.
Bankman-Fried explained that even a “box token” could potentially reach a market cap of $20 million if sufficiently hyped on Twitter. Check out our previous article for more details.