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Growth hacker uses crypto to help the unhoused

Giacomo Arcaro distributed more than $20,000 worth of Ether to some of New York City’s homeless population last weekend.
Before the 2017 bull run, growth hacker Giacomo Arcaro often slept in his car. Now an entrepreneur who speaks at crypto conferences and forums, he is looking for ways to promote adoption and help those financially struggling as a result of the ongoing pandemic.Last weekend, Arcaro prepared to issue up to $50,000 in Ether (ETH) crypto loans to homeless and unhoused people in New York City. After speaking with some of the roughly 80,000 individuals in the city’s homeless population on a different occasion — and giving away some Bitcoin (BTC) in the process — he said many were, unsurprisingly, asking for money for necessities like blankets or food. However, some reportedly wanted funds to buy equipment to work remotely — e.g. microphones.On Mar. 20, the growth hacker set up posters on Wall Street with crypto expert Eloisa Marchesoni and listened to business pitches from unhoused individuals, many of whom don’t have the ability to apply for a loan through traditional banks. Arcaro approved 12.5 ETH — roughly $22,000 at the time of publication — in loans, with an average of 0.5 ETH going to each person. “Some interesting ideas that Eloisa and I vetted and funded were related to recycling, investing in the purchase of equipment to collect cans and bottles,” said Arcaro. “One woman was going to use the ETH to then buy a professional trash picker and stroller cart to carry the cans and bottles to …
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