Coinbase chief executive Brian Armstrong was a guest on the Katie Miller podcast, where he addressed California’s proposed wealth tax on billionaires. Armstrong described the measure as an “unconstitutional asset seizure” and said the company was considering “any and all options in terms of relocation.”
Background on the wealth tax proposal
The wealth tax is currently on the California ballot and would impose a levy on high‑net‑worth individuals. Armstrong characterized the initiative as “feeling very third world” and suggested it amounted to government seizure of private property.
Armstrong’s previous statements on California
Armstrong has previously indicated the possibility of moving Coinbase out of California. In 2021 he announced the closure of the company’s San Francisco offices, though the firm later signed a four‑year lease for 150,000 square feet of office space in the city for 2025.
Podcast discussion
During the interview, Armstrong also made comments unrelated to the tax proposal, including remarks about artificial intelligence and historical life expectancy, which were noted as inaccurate by observers. The episode attracted a modest audience, with approximately 2,000 views reported at the time of publication.
Implications
Armstrong’s remarks highlight ongoing tensions between Coinbase and California’s fiscal policy proposals. The company’s stance on potential relocation underscores the broader debate over how cryptocurrency firms respond to state‑level taxation measures.
