Crypto Leaders Say Capital Is More Mobile Than Ever

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Prominent voices in crypto and venture capital argue that the industry is uniquely positioned to relocate in response to wealth taxes. Jesse Powell called the proposal “the final straw,” warning that billionaires would take jobs, spending, and philanthropy with them. Hunter Horsley echoed that view, saying many wealthy founders are already quietly planning exits.

According to Nic Carter, crypto capital is “more mobile than ever,” with globally distributed startups now commonplace. This mobility, critics say, gives wealthy founders leverage to “vote with their feet,” shifting to lower-tax states like Texas or Florida if California moves forward.

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feels like california is betting the ultra-wealthy wont actually move, and thats a risky assumption tbh