Is it a bluff? — TradingView News
Crypto billionaires are threatening to leave the state of California after a prominent trade union proposed a 5% assets tax on residents worth more than $1 billion.
The Service Employees International Union-United Healthcare Workers West proposed the new tax back in November 2025. The trade union suggested that the new tax would bring in up to $100 billion from 200 state residents, more than making up for federal funding cuts to California’s state healthcare program. The measure will require 850,000 signatures before it can be put on the ballot for a popular vote in the 2026 elections in November.
Prominent investors and billionaires based in California, such as PayPal co-founder Peter Thiel and Google co-founder Larry Page, have…
