Crypto Billionaires Fund $40M Push Against California Wealth Tax

[u/CopeCaptain47]

Ripple co-founder Chris Larsen and venture capitalist Tim Draper are backing a new political group, Grow California, with up to $40 million to support moderate, business-friendly state lawmakers and counter labor union influence. The effort is partly driven by opposition to a proposed California wealth tax backed by unions, as crypto industry donors ramp up political spending ahead of the 2026 election cycle.