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Crypto Billionaires Warn California: ‘Billionaire Tax’ Risks Web3 Exodus

Crypto founders and Web3 investors are sounding the alarm: California’s new “billionaire tax” could drive a fresh stampede of talent and money right out of the state, this time from the blockchain crowd. And honestly, it’s not just the higher tax bills that have people worried it’s the unpredictability. These builders can operate from anywhere, so if they sense chaos around wealth or unrealized-gains taxes, they’ll pack up and go. No hesitation.

California has always been the epicenter of tech, but Web3 companies aren’t like the old-school startups. They’re decentralized, remote, and don’t need fancy offices or big overhead. That means they can move in a heartbeat. If lawmakers send signals that future taxes could hit founders for paper profits or token holdings, you can bet those teams and their treasuries will disappear to friendlier places.

Some critics warn the state’s about to hollow out its next wave of tech growth. Investors, developers, the whole ecosystem they’ll just head to Texas, Florida, or even Asia and the Middle East if it looks safer. Once momentum leaves, good luck getting it back.

Supporters of the tax say California needs the cash and the wealthy should pay more. But crypto leaders say the state risks losing way more in innovation than it ever collects in taxes. The message couldn’t be clearer: if lawmakers don’t get this right, Web3 builders will walk. And in a world built on borderless tech, leaving California is easier than ever.

Hedge funds are hammering the Japanese yen right now, and if you’re into crypto, you’ve probably felt the shock. This isn’t just a story about a weak currency in Japan it’s about how money, risk, and big bets flow across the entire financial world.

Here’s what’s going on: Hedge funds love to borrow yen because it’s cheap, then use those funds to chase bigger returns elsewhere. But lately, Japan’s hinting at tighter monetary policy, and volatility’s spiking. Suddenly, these trades look shaky. When the pressure mounts, funds rush to unwind their positions. They dump riskier assets, grab dollars, and you get this domino effect crypto gets hit hard.

Bitcoin, for example, isn’t tied to Japan itself, but it’s hypersensitive to global liquidity. When hedge funds start slashing risk, crypto usually gets cut first. That’s why the yen’s troubles often line up with fast, sharp drops in Bitcoin even when there’s no bad news in crypto itself.

The Bank of Japan plays a huge role here. Even a whiff of policy change can yank liquidity out of the system, making life tougher for speculative bets like crypto. Suddenly, you see wild price swings and shallow order books.

But don’t panic. These forced sell-offs usually shake out weak hands for a while, not forever. Once the leverage clears, markets catch their breath. The big takeaway? Bitcoin doesn’t move in a vacuum. When hedge funds shift gears in Japan, crypto can get sideswiped even if its long-term story stays the same.