California is planning to hit billionaires with a new one-time wealth tax in 2026, and it sparked loud warnings from tech and crypto founders about an “innovation exodus.” However, crypto markets did not swing on the headlines, but the battle over where builders live and launch still shapes where new projects list, hire, and pay tax. For us, this fight decides whether the next big exchange, wallet, or DeFi app launches in the US or somewhere more crypto friendly. Investor Chamath Palihapitiya says Calif ...

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