Welcome to the US Crypto News Morning Briefing—your essential rundown of the most important developments in crypto for the day ahead.
Grab a coffee—big moves are happening on the US coasts. From luxury mansions in Miami to shifts in billionaire residency, wealth is on the move, amid new patterns in finance, real estate, and crypto.
Crypto News of the Day: Florida Emerges as a Tax Haven for Tech and Crypto Wealth
California’s tech and crypto elites are increasingly eyeing Florida as a tax-friendly alternative. Grant Cardone’s recent X (Twitter) post advertising a 10,000 sq. ft., 7-bedroom Miami mansion for 700 BTC highlights the growing intersection of Bitcoin wealth and high-end real estate.
Sponsored
Sponsored
The listing coincides with a surge in relocations by high-net-worth individuals from California. Meta CEO Mark Zuckerberg and his wife, Priscilla Chan, are the latest California billionaires moving to South Florida.
Reportedly, they are purchasing a newly completed waterfront mansion in Miami’s Indian Creek neighborhood. Based on reports, the gated community is home to other high-profile figures, including Jeff Bezos, Tom Brady, and Jared Kushner/Ivanka Trump.
The seller is reportedly a limited liability company tied to Jersey Mike’s Subs founder Peter Cancro. While the deal has not been publicly confirmed as closed, WSJ, citing neighbors, estimates that Zuckerberg plans to move in by April 2026.
California Tax Fallout
The relocations come amid a proposed California billionaire tax that has sparked concern among the state’s wealthiest residents.
According to Chamath Palihapitiya, a Canadian-American VC and SPAC pioneer, California’s total taxable wealth from billionaires has fallen from over $2 trillion to under $1 trillion following announcements of high-profile departures.
Sponsored
Sponsored
Palihapitiya criticized the state’s handling of the proposed tax, arguing that the middle class will bear the fiscal burden left behind by relocating billionaires.
Against this backdrop, experts describe the billionaire tax initiative as having “backfired in the most spectacular fashion with ripple effects on local economies and corporate headquarters.
Brian Sullivan of CNBC noted that companies often follow CEOs, suggesting that Meta employees could also relocate to Florida, effectively benefiting from lower state income tax rates.
Local real estate agents report a significant uptick in demand for ultra-luxury properties. According to Danny Hertzberg, a Miami agent with Coldwell Banker Realty, interest in South Florida’s high-end market has intensified since the announcement of California’s billionaire tax.
Sponsored
Sponsored
Crypto’s Role in Wealth Mobility
Beyond real estate, the situation mirrors broader trends in wealth mobility and in decentralized assets. Balaji Srinivasan, former CTO of Coinbase, has warned that California’s billionaire tax could disrupt venture capital incentives, potentially reducing Silicon Valley from “one to zero” over the next decade.
He frames crypto networks and internet-native protocols as politically resilient alternatives, able to operate globally and adapt to structural risk in ways traditional tech and finance cannot.
Srinivasan likens the current moment to an extinction event: while Silicon Valley’s centralized dominance may be fragile, decentralized networks like Bitcoin are structurally positioned to thrive in a shifting political and economic playing field.
Sponsored
Sponsored
As Florida attracts both tech and crypto wealth, Grant Cardone’s 700 BTC mansion is emblematic of a wider trend. High-net-worth individuals are leveraging digital assets and favorable tax jurisdictions to preserve wealth, while California’s billionaire tax debate continues to reverberate across the US.
Chart of the Day
Ongoing decline in the share of US tech jobs that are located in California. Source: Apollo Academy ResearchByte-Sized Alpha
Here’s a summary of more US crypto news to follow today:
Source: https://beincrypto.com/miami-beach-house-bitcoin-sale-california-tax-haven/
