Token | Trading Volume 【BTC】13.69 billion 【AT】144.89 million 【PAXG】155.76 million 【PENGU】82.19 million 【APT】55.33 million 【SUI】360.05 million 【LGNS】38.86 million 【TRUMP】652.07 million 【SOL】2.61 billion 【LUNA】18.10 million

Odaily Planet Daily reports that California's proposed "Billionaire Tax Act of 2026" has sparked strong opposition from many in the crypto industry. The proposal suggests levying 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 had led to the emigration 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 tax revenue will be used to improve childcare, housing, and education, thereby benefiting American innovation. However, opponents also point out that a California audit report revealed issues with the efficiency of public fund usage, questioning whether the increased tax revenue can truly be used for its intended goals. (Cointelegraph)

In the past hour, total liquidations across the network reached $35.74 million, with $1.17 million from long positions, with $34.58 million from short positions. BTC liquidation $17.16 million, ETH liquidation $12.37 million.

Huoxun Finance News, December 29th - According to Prtimes, Tokyo-based cryptocurrency rewards platform SocialGood Inc. announced the completion of an ¥880 million (approximately $5.63 million) Series B funding round, bringing its total funding to ¥2.4 billion ($15.35 million). This round raised ¥880 million through third-party private placements (i-nestcapital Co., Ltd., etc.) and loans. The company plans to use the new funds to further strengthen its internal management and governance structure. SocialGood's platform integrates e-commerce websites such as eBay, Walmart, and Booking.com, as well as mobile games like *Rise of Kingdoms* and *BallSort*. Users can accumulate Bitcoin and other cryptocurrencies as rewards by purchasing goods or services through the platform.

According to data from SoSoValue, as reported by Odaily Planet Daily on December 29th, the crypto market generally saw gains. The SocialFi sector rose 3.48% in the past 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 past 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.