California’s proposed 5% billionaire tax has drawn strong criticism from crypto executives, who warn it could trigger capital flight, drive entrepreneurs out, and fail to meet its stated goals.
A proposed 5% tax on billionaires’ wealth in California has drawn a strong response from crypto executives, who argue it would trigger an exodus of entrepreneurs, capital flight, and would be wasted anyway.
The initiative, known as the 2026 Billionai… [3118 chars]
Source: Cointelegraph | Published: 2025-12-29T02:48:55Z
Credit: Cointelegraph
