Welcome to US Crypto News Morning Briefing. A critical overview of the most important developments in cryptocurrencies of the day.
Let’s have some coffee. There is a big movement happening on the shores of the United States. From luxury mansions in Miami to billionaire residences, wealth continues to move in new patterns in finance, real estate, and cryptocurrencies.
Today’s crypto news: Florida emerges as a tax haven for tech and crypto assets
California’s tech and crypto elites are increasingly looking to Florida as a tax-friendly alternative. Grant Cardone’s recent X (Twitter) post advertising a 10,000 square foot, 7-bedroom Miami mansion for 700 BTC highlights the growing intersection of Bitcoin wealth and luxury real estate.
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The list coincides with a surge in wealthy out-migration from California. Meta CEO Mark Zuckerberg and his wife Priscilla Chan are recent California billionaires who moved to South Florida.
They are reportedly purchasing a newly completed waterfront mansion in Miami’s Indian Creek neighborhood. According to reports, the gated community is also home to other celebrities, including Jeff Bezos, Tom Brady, and Jared Kushner/Ivanka Trump.
The seller is reportedly a limited liability company with ties to Jersey Mike’s Subs founder Peter Cancro. Although there has been no official confirmation that the deal has been finalized, WSJ estimates, citing neighbors, that Zuckerberg plans to move in by April 2026.
california tax fallout
The move comes amid a proposed California billionaire tax that has raised concerns among the state’s wealthiest residents.
Chamath Palihapitiya, a Canadian-American venture capitalist and SPAC pioneer, says the total taxable assets of California billionaires have fallen from more than $2 trillion to less than $1 trillion following the announcement of retirements by celebrities.
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Palihapitiya criticized the state’s response to the proposed tax, arguing that the fiscal burden left by the exodus of billionaires would be borne by the middle class.
“These are all people who until a few weeks ago were paying more than 13% state income tax each year without any complaints,” Palihapitiya said.
Against this backdrop, experts say the billionaire tax initiative “backfired in the most spectacular way, with ripple effects on local economies and corporate headquarters.”
CNBC’s Brian Sullivan noted that companies often follow their CEOs and suggested that Meta’s employees could also relocate to Florida, effectively benefiting from lower state income tax rates.
Local real estate agents are reporting a significant increase in demand for ultra-luxury properties. Danny Hertzberg, a Miami agent with Coldwell Banker Realty, said interest in South Florida’s luxury market has increased since the announcement of California’s billionaire tax.
WSJ quoted Hertzberg as saying, “California’s 5% tax actually displaces people in a big way.”
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The role of cryptocurrencies in wealth mobility
This situation extends beyond real estate and reflects broader trends in wealth mobility and diversification. Balaji Srinivasan, former CTO of Coinbase, warned that California’s billionaire tax could disrupt venture capital incentives and reduce Silicon Valley from “one to nothing” over the next decade.
He frames crypto networks and internet-native protocols as politically resilient alternatives that can operate globally and adapt to structural risks in ways that traditional technology and finance cannot.
Srinivasan likens this moment to an extinction event. Silicon Valley’s centralized dominance may be fragile, but decentralized networks like Bitcoin are structurally positioned to thrive even as the political and economic playing field changes.
“…the intended purpose of California’s wealth seizure referendum is to extort or expel everyone in tech…The Democratic Party’s goal, like the Republicans, is to drive tech companies out of California…Cryptocurrency is built to resist wealth seizure, but Silicon Valley technology certainly isn’t…As a natural-born American citizen, he (Zuckerberg) does not have the same constraints as Thiel or Elon,” Srinivasan explained.
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Florida is home to both tech and crypto assets, and Grant Cardone’s 700BTC mansion is emblematic of a broader trend. The debate over California’s billionaire taxes continues to resonate across the country, as the wealthy leverage digital assets and favorable tax policies to preserve their wealth.
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Here’s a rundown of US crypto news to follow today.
