Coinbase Global Inc. CEO Brian Armstrong said California's proposed wealth tax “will have a negative impact on California.” “A lot of tech founders I know are planning to leave California or have already moved out. I think this policy could cause huge fiscal deficits.” “I personally believe that it is against the American spirit and immoral to try to seize people's assets.” “There is currently no news to be announced as to whether or where I will be relocating myself. I'll speak out publicly about this when the preparations are in place.”

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