Connect with us

Technology

Early Results of Rooted School Foundation’s “The $50 Study” Include Promising Findings

Published

on

The $50 Study is a first of its kind study to measure the impact of direct, unconditional, cash transfers on teens. Results and findings from cohort I of a multi-year Randomized Controlled Trial show that students who receive direct cash transfers experience improved school attendance, reading level and financial capability. 

NEW ORLEANS, Aug. 12, 2024 /PRNewswire/ — Rooted School Foundation is excited to share preliminary findings and results from “The $50 Study”, an innovative guaranteed income program aimed at high school students in New Orleans and Indianapolis. Since its inception in 2020, The $50 Study has reached over 400 students, making it one of the largest studies of its kind globally. From 2022-2024, Rooted School Foundation (RSF) facilitated a Randomized Controlled Trial (RCT) in which two cohorts of students received $50/week for 40 weeks. The results from the first cohort offer a promising outlook on the ways guaranteed income can impact high school students.

Treatment group reading scores grew 0.5 years vs 0.25 for control group in same period, showing greater improvement.

Cohort I Key Findings

The first cohort included 156 students from Rooted School New Orleans and Rooted School Indianapolis; 82 students were in the treatment group receiving $50/week for 40 weeks during the 2022-2023 school year. The remaining students were in the control group and did not receive the cash transfers. Preliminary results from of the study, compiled by the Center for Guaranteed Income Research and the University of Tennessee-Knoxville, are directionally promising as they suggest that direct cash transfers impact students’ lives in the following ways:

Students in the treatment group missed two fewer days of school (over a semester) compared to those in the control group. As students are required to be present a specific number of days for both grade promotion and graduation, the impact of decreased absenteeism can have a significant impact on students’ educational outcomes.Lexile (reading) score levels grew more for students in the treatment group (0.5 years growth) compared to those in the control group (0.25 years growth) over the same time period. Reading level is a key indicator of educational success, both in high school and after graduation.Students in the treatment group improved their knowledge and habits related to managing money. While financial literacy was not explicitly taught to students in the treatment group, the findings from survey responses suggest that students’ who receive the cash transfers deepen their financial capability.Transaction data shows that students predominantly used the money for basic needs such as food and transportation. Approximately 47% of money transferred to students in cohort I was still in bank accounts at the end of the study, suggesting that students are also intentionally saving their money.

“When young people have access to money – and the stress relief inherent within that access – transformative outcomes are possible. These outcomes transcend credit attainment, Lexile growth, and excellent attendance numbers… This transcendence means actively walking the path to financial freedom every day.” – Kaitlin Karpinski, Rooted School New Orleans Executive Director and School Leader

Impact on The Field
While many guaranteed income pilots and studies explore and highlight the positive impacts of guaranteed income for adults, minimal research has been done to understand the implications of direct cash transfers on youth, specifically through the lens of academic outcomes. This study starts to fill that gap, showing that small cash transfers can improve school performance, increase financial capability, and improve well-being. RSF is in the final months of cohort II of the RCT (230 students total; 91 in treatment), and will have results from both cohorts available in 2025.

“We know that the odds for upward economic mobility are increasingly stacked against young people, particularly those from lower income backgrounds and marginalized identities. This study, the first ever conducted with high schoolers, shows that when young people are trusted and supported with unconditional cash, they invest in their futures – improving their reading ability, class attendance, and capacity to manage money. Expanding The $50 Study will not only lead to improved outcomes for more students, but will also further the research base for the impact of these programs” – Dr. Stacia West, Co-Founder, Center for Guaranteed Income Research, University of Pennsylvania; Associate Professor, University of Tennessee

The $50 Study Expansion Plans
Building on the success of the RCT, RSF is preparing to launch “The $50 Study: Long Term Impacts of Unconditional Cash for High School Students” in partnership with The City of New Orleans’ Office of Economic Development. This RCT study will include 1,600 New Orleans public high school seniors; 800 students will receive $50/week for 40 weeks. Students will continue to be enrolled in the study for an additional 46 months after the transfers end to further understand the impact of the cash transfers on long-term outcomes, such as college enrollment and persistence.

RSF has invited all open enrollment charter high schools in Orleans Parish to participate in the expanded $50 Study. The following schools have opted-in to participate: Rooted School New Orleans, New Harmony High School, Sophie B. Wright High School, InspireNOLA Schools: Edna Karr High School, McDonough 35 College Preparatory High School and Eleanor McMain Secondary School, Collegiate Academies Schools: Abramson Sci Academy, G.W. Carver High School and Livingston Collegiate Academy, and EQA Schools: The NET: Central City, The NET: East, and The NET: Gentilly. RSF will keep the invitation to participation open until September 1, 2024.

“The Office of Economic Development is thrilled to be an investor in ‘The $50 Study,'” said Jeff Schwartz, Director of Economic Development at the City of New Orleans. “This unique guaranteed income study enrolling public high school students will produce results that will inform policy and programming as we all work toward a more equitable and inclusive city. This study meets students where they are and provides opportunities for economic mobility that will surely create lasting impacts for individuals and in the larger community.” – Jeffery E. Schwartz, Director of Economic Development, City of New Orleans

“With The $50 Study, we’re charting new territory in youth economic empowerment and education. Our initial observations are intriguing, showing potential in areas like school engagement and financial capability. However, we’re cautious about drawing broad conclusions at this early stage. What’s clear is that this approach warrants further exploration. As we expand the study, we hope to gain deeper insights that could inform future educational strategies and economic policies for young people.” – Jonathan Johnson, Founder and CEO of Rooted School Foundation, who is also an Advisor with the Guaranteed Income & Health Consortium at Johns Hopkins Bloomberg School of Public Health

Support for The $50 Study
Individuals and organizations interested in investment or involvement in The $50 Study can connect with the team by emailing youthcashtransfer@rootedschool.org, listening to participant stories on The Rooted Cash Podcast, or donating to the program here.

View original content to download multimedia:https://www.prnewswire.com/news-releases/early-results-of-rooted-school-foundations-the-50-study-include-promising-findings-302217009.html

SOURCE Rooted School Foundation

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Technology

Galaxy Digital Inc. Announces Pricing of $3.507 Billion of Senior Secured Notes

Published

on

By

NEW YORK, July 23, 2026 /PRNewswire/ — Galaxy Digital Inc. (NASDAQ: GLXY) (“Galaxy” or the “Company”), a global leader in digital assets and data center infrastructure, today announced that its indirect wholly owned subsidiary, Galaxy Helios Data Centers II LLC (the “Issuer”), has priced a $3.507 billion private offering (the “Offering”) of 9.875% senior secured notes due 2031 (the “Notes”). The Offering is expected to close on July 28, 2026, subject to market and other conditions.

The Issuer intends to use the net proceeds from the Offering to finance a portion of the development and construction of two buildings containing eight data halls with a combined total of 400 megawatts (“MW”) of utility capacity and 260 MW of critical IT capacity (the “Project”) to be built on an approximately 260-acre property in Dickens County, Texas and to fund debt service reserves.

The Notes will bear interest at a rate of 9.875% per annum payable semi-annually in cash in arrears on February 1 and August 1 of each year, beginning on February 1, 2027 and will mature on August 1, 2031. The Notes will amortize at a rate of 4.00% per annum of the original principal amount subject to adjustment, with amortization payments payable semi-annually with the first payment date to occur at least ten months after the completion of the Project.

The Notes will be fully and unconditionally guaranteed by Galaxy Helios II LLC, a wholly owned direct subsidiary of the Issuer (the “Guarantor”), and will constitute the senior secured obligations of the Issuer and the Guarantor. The Notes and related note guarantee will be secured by first-priority liens on (i) substantially all assets of the Issuer and the Guarantor, other than certain excluded property and (ii) all equity interests of the Issuer held by the direct parent company of the Issuer.

The Offering is subject to market and other conditions, and there can be no assurance as to whether, when or on what terms the Offering may be completed.

The Notes have not been registered under the Securities Act or the securities laws of any other jurisdiction, and the Notes may not be offered or sold in the United States absent registration or an applicable exemption from registration under the Securities Act and any applicable state securities laws. The Notes will be offered only to persons reasonably believed to be qualified institutional buyers under Rule 144A under the Securities Act and outside the United States to non-U.S. persons in reliance on Regulation S under the Securities Act.

This press release shall not constitute an offer to sell, or a solicitation of an offer to buy the Notes, nor shall there be any sale of the Notes in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About Galaxy

Galaxy Digital Inc. (Nasdaq: GLXY) is a global leader in digital assets and data center infrastructure, delivering solutions that accelerate progress in finance and artificial intelligence. Our digital assets platform offers institutional access to trading, advisory, asset management, staking, self-custody, and tokenization technology. In addition, we develop and operate cutting-edge data center infrastructure to power AI and HPC workloads. Our 1.63 GW Helios campus in Texas positions Galaxy among the largest and fastest-growing data center developers in North America. The Company is headquartered in New York City, with offices across North America, Europe, the Middle East, and Asia.

Forward Looking Statements

This press release includes forward-looking statements, including statements relating to the completion, size and timing of the Offering, the terms of the Notes and the intended use of proceeds. The Company intends such forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995 and includes this statement for purposes of complying with these safe harbor provisions. Forward-looking statements represent the Company’s current expectations regarding future events and are subject to known and unknown risks and uncertainties that could cause actual results to differ materially from those implied by the forward-looking statements. Among those risks and uncertainties are market conditions, including market interest rates, the satisfaction of the closing conditions related to the Offering and risks relating to the Company’s business, including those described in periodic reports that the Company files from time to time with the SEC. The Issuer may not consummate the proposed Offering described in this press release and, if the proposed Offering is consummated, cannot provide any assurances regarding the final terms of the Offering or the Notes or its ability to effectively apply the net proceeds as described above. The forward-looking statements included in this press release speak only as of the date of this press release, and the Company does not undertake to update the statements included in this press release for subsequent developments, whether as a result of new information, future events, or otherwise, except as may be required by law.

View original content to download multimedia:https://www.prnewswire.com/news-releases/galaxy-digital-inc-announces-pricing-of-3-507-billion-of-senior-secured-notes-302833899.html

SOURCE Galaxy Digital Inc.

Continue Reading

Technology

The Finish Line that Changed China: Retracing the Long March to Yan’an

Published

on

By

BEIJING, July 23, 2026 /PRNewswire/ — A news report from China.org.cn on the Long March, and what it means for China today:

 

Every journey has a destination.

But some destinations become the beginning of something even greater.

This is Yan’an.

Over 90 years ago, an army of soldiers embarked from Yudu, Jiangxi Province, on a journey that would go down in history.

They crossed snow-capped mountains, vast grasslands and raging rivers, eventually arriving in northern Shaanxi.

Across this grueling 12,500-kilometer journey, they wrote a magnificent epic in human history with willpower and courage.

Here, their Long March came to a victorious end. But a new chapter of history was only beginning.

In Yan’an, the Red Army found time to recover and rebuild, and the Central Committee of the Communist Party of China regrouped, gathering strength for the next chapter.

Here, new ideas were debated, new strategies were shaped, and a vision for China’s future gradually took form.

Today, while preserving its revolutionary legacy, Yan’an has grown into a vibrant, modern city — with a greener environment, thriving industries and happier lives for its people.

Nearly 90 years ago, American journalist Edgar Snow came to northern Shaanxi, seeking to uncover a story that few outside China knew. He later chronicled it in his book “Red Star Over China,” which carried the story of the Long March to the world.

Today, people from around the world are once again retracing those steps.

As part of China International Communications Group (CICG)’s “Together on the Long March” international communication project, participants have spent more than a month retracing the route across six key regions.

From Jiangxi to Shaanxi, they followed the Red Army’s journey and witnessed the remarkable changes that have taken place along the way.

I asked them one simple question: What does this journey mean to you?

Zhavier Harris, marketing and communications manager at the Springfield Urban League, said conversations with local residents and descendants of the Red Army made history feel far more immediate than he had expected.

He said history isn’t as distant as we often think. “We’re only one or two generations from these great sacrifices that led to the development and the greatness that we see from the Communist Party of China and China as a whole.”

David Ferguson, honorary chief English editor at Foreign Languages Press under CICG and a recipient of the 2021 Chinese Government Friendship Award, said the journey deepened his understanding of the Long March.

He said the journey helped him understand not only the historical facts, but also what the Red Army endured. “If you see the Long March merely as a military campaign, it ended in Yan’an. But as a spirit, it has never truly come to an end.”

We came to retrace history. We leave with something more: a deeper understanding of China’s past, a clearer view of its present, and perhaps a greater appreciation for the stories that connect us across cultures.

Edgar Snow called the Long March “an Odyssey unequalled in modern times.” He believed that what sustained it was a flame — consisting of an undimmed ardor, an undying hope and an amazing revolutionary optimism.

Ninety years later, that flame still burns.

Passed down through generations, the spirit of the Long March continues to light China’s path forward.

And as it crosses borders and cultures, it offers the world a glimpse of a nation defined by resilience, perseverance and an enduring drive to move forward.

China Mosaic
http://www.china.org.cn/video/node_7230027.htm 

The Finish Line that Changed China: Retracing the Long March to Yan’an
http://www.china.org.cn/video/2026-07/23/content_118614941.shtml

View original content to download multimedia:https://www.prnewswire.com/news-releases/the-finish-line-that-changed-china-retracing-the-long-march-to-yanan-302833900.html

SOURCE China.org.cn

Continue Reading

Technology

Visa and Lianlian Advance Trusted B2B Agentic Commerce Through LoopXPay’s First Live B2B Agentic Transaction

Published

on

By

First live B2B agentic transaction in Greater China highlights how AI-enabled commerce can help SMBs streamline purchasing and payments, supported by Visa’s Agentic Directory for trusted AI agent interactions

SINGAPORE, July 24, 2026 /PRNewswire/ — Visa (NYSE: V), a global leader in digital payments, and Lianlian DigiTech Co., Ltd. (“Lianlian”), an AI-native global financial infrastructure provider, today announced the first live B2B agentic transaction completed using LoopXPay, Lianlian’s AI agent. 

Small and medium sized businesses (SMBs) often lack dedicated procurement teams and spend valuable time sourcing, purchasing and making payments themselves. In the transaction, the LoopXPay agent was used to source a product sample from a supplier and complete the purchase in a single workflow. The agent identified the purchasing requirement, recommended suitable suppliers, compared options, placed the order and securely executed the payment within a single workflow, while operating within pre-defined spending controls and approval parameters.

The milestone highlights how AI-powered commerce experiences can help SMBs simplify purchasing and payment activities while maintaining appropriate controls and oversight. By enabling AI agents to operate within pre-defined spending parameters and approval controls, businesses can reduce manual effort while retaining visibility into commercial decision-making.

As AI agents become more involved in purchasing and payment activities, businesses will require confidence that transactions are being executed by verified participants, within approved parameters and with appropriate oversight. Capabilities aligned with Visa’s Trusted Agent Protocol can help provide the identity, transparency and controls needed to support these interactions.

As part of the collaboration, LoopXPay has been registered in Visa’s Agentic Directory, enabling participating businesses and merchants to identify verified AI agents within the ecosystem. Supporting the implementation of Visa’s Trusted Agent Protocol, the Agentic Directory helps provide greater transparency into agent-driven interactions and confidence that participating agents have met Visa’s requirements.

“AI-powered commerce experiences can help businesses simplify purchasing and payments while maintaining the controls and oversight they require,” said Darren Parslow, Global Head, Visa Commercial Solutions, Visa. “For SMBs, that means less complexity in managing day-to-day commercial activities and more time focused on growth. As businesses increasingly look to embed intelligence into purchasing and payment experiences, trust will become a critical enabler of adoption. Through our collaboration with Lianlian, we are helping advance the trusted foundations that businesses will need to participate in this next era of commerce with confidence.”

Building on this milestone, Visa and Lianlian are exploring how AI agents can support a broader range of commercial activities, including procurement, digital advertising optimisation and B2B platform payments, helping advance trusted commerce through greater efficiency, transparency and control.

Zhang Zhengyu, Founder, Chairman of the Board and CEO, Lianlian DigiTech, said, “AI is reshaping the entire commercial value chain, where a growing number of business activities will be autonomously executed by AI agents, with payments serving as the critical infrastructure connecting them to global commerce. Leveraging its experience in global cross-border payments, compliance, as well as payment network, LianLian is actively building AI-native financial infrastructure, delivering an integrated suite of capabilities for the Agent Economy, spanning identity verification, transaction authorisation, intelligent payment, and global fund settlement. Through this collaboration with Visa, we aim to combine Lianlian’s AI-native capabilities with Visa’s trusted global network and commercial payment expertise to help businesses transact more securely, intelligently and efficiently in an increasingly agent-driven commerce environment.”

About Visa

Visa (NYSE: V) is a world leader in digital payments, facilitating transactions between consumers, sellers, financial institutions and government entities across more than 200 countries and territories. Our mission is to connect the world through the most innovative, convenient, reliable and secure payments network, enabling individuals, businesses and economies to thrive. We believe that economies that include everyone everywhere, uplift everyone everywhere and see access as foundational to the future of money movement. Learn more at Visa.com.

About Lianlian

Lianlian DigiTech Co., Ltd. (“Lianlian DigiTech” or “Lianlian”) was founded in 2009 and listed on the Main Board of the Hong Kong Stock Exchange in 2024 (stock code: 2598.HK). As China’s leading global provider of digital and intelligent payment services, Lianlian adheres to its mission of “Connecting the world, empowering global commerce” and pursues an “AI-Native + Globalization” strategy. The Company is committed to building a trusted global intelligent financial infrastructure, enabling seamless connectivity between Chinese enterprises and global businesses.  As of now, Lianlian has established a global licensing portfolio comprising 68 payment licenses and related qualifications, and holds a VATP license issued by the Hong Kong SFC. It supports services in more than 200 countries and regions and enables transaction settlement in over 140 currencies, connecting over 180 global e-commerce platforms and serving a cumulative total of over 13.3 million customers. Learn more at www.lianlian.com.

View original content to download multimedia:https://www.prnewswire.com/apac/news-releases/visa-and-lianlian-advance-trusted-b2b-agentic-commerce-through-loopxpays-first-live-b2b-agentic-transaction-302833916.html

SOURCE Visa Worldwide Pte. Limited

Continue Reading

Trending