⚡️ Crypto heavyweights slam proposed 5% wealth tax in California
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 and capital flight, and would be wasted anyway.
Senior figures in the crypto industry, including Bitwise CEO Hunter Horsley and Kraken co-founder Jesse Powell, argue that the measure would only result in billionaires leaving the state, with a negative overall effect.
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