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Coinbase CEO Brian Armstrong: California wealth tax a ‘dangerous precedent’
Brian Armstrong tells Squawk Box he opposes California’s proposed wealth tax, calling it a ‘dangerous precedent’ and warning of risks for innovation and investors.
Editorial companion
What stands out
Brian Armstrong told CNBC’s Squawk Box that California’s proposed wealth tax "is a dangerous precedent," and he framed it as a threat to how technology and crypto companies organize themselves. The clip matters because Coinbase is a high-profile crypto platform whose leadership, customers and investors sit squarely in the demographic such a tax would target, so the exchange’s public opposition amplifies headline risk. For shareholders, it is a reminder that political fights over taxation can translate into lobbying expenses, talent shifts and regulatory attention that matter to long-term returns.