California's proposed "Billionaire Tax Act of 2026" has drawn strong opposition from many in the crypto industry. The bill proposes a 5% wealth tax on individuals with a net worth exceeding $1 billion, with the proceeds intended to fund the healthcare system and state-level aid programs. Industry experts believe this policy could lead to an outflow of entrepreneurs and capital, negatively impacting the local innovation ecosystem. Bitwise CEO Hunter Horsley and Kraken co-founder Jesse Powell, among others, point out that the wealth tax is partly based on unrealized gains, potentially forcing taxpayers to sell shares or business assets to raise funds. Powell stated on the X platform that this measure could be the "last straw" preventing billionaires from staying in California, with related spending, employment, and philanthropic activities potentially shifting as a result. Castle Island Ventures founding partner Nic Carter and ProCap BTC chief investment officer Jeff Park also believe that in a context of high capital mobility, a one-time wealth tax could signal to the market the possibility of further taxation in the future. Meanwhile, Dune co-founder Fredrik Haga cited Norway as an example, stating that a similar tax system led to the exodus of high-net-worth individuals, with the actual tax revenue falling short of expectations. Supporters of the proposal include California's 17th Congressional District Representative Ro Khanna, who believes the taxes will be used to improve childcare, housing, and education, thereby promoting American innovation. However, opponents point to past California audit reports revealing issues with the efficient use of public funds, questioning whether the increased tax revenue will truly be used for its intended goals. (Cointelegraph)

null source: https://x.com/angrycryptoshow/status/2005464030379491511

null source: https://x.com/angrycryptoshow/status/2005463743811948638

A new data for upcoming token unlocks highlights where fresh supply is set to hit the market over the coming days and weeks, offering a clear view of short-term distribution risk across several major and mid-cap projects. source: https://www.ethnews.com/token-unlocks-line-up-as-market-faces-fresh-supply-pressure/

On December 29th, according to SoSoValue data, the crypto market generally saw gains. The SocialFi sector rose 3.48% in the last 24 hours, with Toncoin (TON) rising 4.18%. Meanwhile, the CeFi sector rose 2.65%, with Canton Network (CC) rebounding sharply by 21.59% and Binance Coin (BNB) rising 2.65%. Other sectors also saw gains: Layer 1 rose 2.46% in the last 24 hours, with Solana (SOL) rising 3.80% and Zcash (ZEC) rising 4.38%; Meme rose 1.44%, with Pepe (PEPE) rising 2.89%; DeFi rose 1.12%, with Uniswap (UNI) rising 3.90%; and PayFi rose 0.73%, with Dash (DASH) rising 2.02%. Only the Layer 2 sector declined by 0.24%, while Zora (ZORA) rose by 9.15%. Crypto sector indices reflecting historical performance show that the ssiSocialFi, ssiCeFi, and ssiLayer1 indices rose by 3.61%, 2.51%, and 1.88%, respectively.

According to BlockBeats, on-chain data analyst Murphy has released an end-of-year analysis of Ethereum, titled 'Is ETH Still Worth Anticipating in 2026?' The analysis concludes that the current issue with Ethereum is not the upper-level holdings but the dispersed structure below. The $2,700 mark is identified as a key consensus support zone, and if breached, the price could enter a vacuum lacking anchor points. Major whale groups have not abandoned their positions but have become more cautious, with the concentration of holdings rapidly increasing and being systematically consolidated. On-chain activity indicates that around September 18, significant funds were established at approximately $4,500. Despite a price surge on December 6, these holdings were not sold, and as ETH's price declined, these positions began to be liquidated. A large number of trapped positions exist around $3,100, resulting from whale groups that built positions between $2,600 and $2,700 from May to July, with an average cost now at $3,100. Around November 23, substantial funds entered at $2,700-$2,800, forming a dense accumulation zone, with no signs of reduction so far. The current concentration of ETH holdings is most significant between $2,700 and $3,100, with 17.9 million ETH, accounting for 22.6% of the total circulation, followed by 4.43 million ETH at the $3,100 level. The $3,100 holdings are not considered a resistance to a rebound, but $2,700 is seen as effective support. ETH's price fluctuates within this range due to institutional consensus. Whale holdings, defined as wallets with over 100,000 ETH, are considered the 'smartest' leaders of this cycle. During the price drop to $1,500 from February to April, this group was the primary force for accumulation. As ETH rebounded to $3,500, they began to rapidly reduce their holdings, selling during ETH's peak from August to October. During the price correction to $2,700 on November 21, this group increased their holdings again.

According to Foresight News, data from Token Terminal indicates that the number of smart contracts deployed on Ethereum in the fourth quarter has reached 8.7 million, marking a new historical peak.

Andy, founder of The Rollup, posted on X: "After the initial token volatility, Lighter's open interest (OI) is likely to drop by more than 20%, and trading volume may decrease by more than 30%. It's not a bull market now, but a sideways, bearish market environment, and the overall outlook is not optimistic. Nevertheless, if LIT's fully diluted valuation (FDV) is around $2 billion, I would still choose to buy."

null source: https://x.com/cointelegraph/status/2005461329633542458

Hourglass announced on its X platform that withdrawals for the second phase of the Stable Pre-Deposit program will be available on December 31, 2025. Further details regarding the withdrawal process will be released soon.

Grok, Elon Musk’s AI chatbot on X, has been praised by Vitalik Buterin for giving unpredictable responses that challenge users’ political biases and promote more truthful interactions.

A massive hack has struck Trust Wallet, one of the most widely used crypto wallets, resulting in estimated losses exceeding $6 million.

Italy’s competition authority has ordered Meta to allow rival AI chatbots on WhatsApp while investigating possible abuse of its dominant position. Meta plans to appeal, saying the policy protects its systems, but regulators worry it could limit competition and innovation in the AI market.

Nvidia has announced a $20 billion acquisition of Groq’s core assets, a landmark move that strengthens its already commanding position in the artificial intelligence chip market and reshapes the competitive landscape for AI infrastructure.

Keonne Rodriguez, co-founder of Samourai Wallet, began serving a five-year federal prison sentence and shared a personal account of his first days, describing the intake process and adjusting to prison life just before Christmas.

The Philippines has escalated its crackdown on unlicensed cryptocurrency platforms, with internet service providers beginning to block access to major global exchanges, signaling a decisive shift toward stricter enforcement of local crypto regulations.

Pudgy Penguins projected its animated characters on the Las Vegas Sphere for a week-long holiday campaign, promoting its physical products rather than NFTs. The display helped the crypto-born brand reach mainstream audiences, supporting merchandise sales and boosting recognition despite a struggling NFT market.

Kraken has officially launched the Krak Card, a Mastercard crypto debit card for residents living in the EU countries and the United Kingdom. The Krak card would allow users to spend more than 400 cryptocurrencies and fiat currencies seamlessly.

Trust Wallet confirmed a security incident affecting version 2.68 of its Chrome extension after users reported unauthorised wallet drains following a recent update. The company told users to disable the extension and upgrade immediately, saying its mobile app and other versions were not affected while the investigation continues.

Kyrgyzstan has taken another step toward embedding digital assets into its financial system after cryptocurrency exchange Binance listed the country’s first som-pegged stablecoin, a move that signals growing state-level confidence in blockchain-based payments and infrastructure.