Tagged: california

April 30, 2026 @ 1:00 am By Omar Faridi  |  

The US Justice Department announced that a 22-year-old resident of Newport Beach, California, was sentenced April 24 in federal court in Washington, D.C., to more than five years behind bars for his central role in cleaning dirty money from one of the largest social-engineering fraud… Read More

March 29, 2026 @ 1:06 pm By Omar Faridi  |  

California Governor Gavin Newsom has taken decisive action to safeguard public integrity by issuing an executive order that explicitly forbids state appointees from exploiting confidential information for financial gain on prediction market platforms. Signed on March 27, 2026, the directive immediately reinforces longstanding ethics standards… Read More

March 3, 2026 @ 6:14 pm By JD Alois  |  

A “wealth tax,” which is really a confiscation tax that seeks to tax unrealized capital gains, has never worked anywhere. Yet, some policymakers and special interest groups are pursuing this self-destructive policy with California leading the way. As California’s state budget is mired in debt… Read More

February 17, 2026 @ 10:53 am By JD Alois  |  

A wealth confiscation tax has never been widely successful anywhere it has ever been attempted. Yet, some policymakers and pundits continue to support the concept of taxing unrealized gains and wealth thresholds. As the Laffer Curve explained decades ago, excessive taxation will have the opposite… Read More

February 10, 2026 @ 9:39 am By JD Alois  |  

The California confiscation tax is doing wonders for at least one state. That would be Florida. The confiscation tax is designed to take money from wealthy residents by taxing unrealized gains and total wealth. As California remains an economy driven by innovation and entrepreneurship, wealthy… Read More

January 26, 2026 @ 2:39 pm By JD Alois  |  

A group called “Pissed Off at Ro“ has been created to challenge Representative Ro Khanna, a vocal supporter of the California confiscation tax, which has been proposed. The new group was recently promoted by Garry Tan, CEO of VC firm YCombinator, who has been posting… Read More

January 22, 2026 @ 5:23 pm By Omar Faridi  |  

Aven, a San Francisco Bay Area-based fintech company founded in 2019, is committing several million dollars to create a new federal credit union called Haven FCU. This initiative, spearheaded by Aven’s cofounder and CEO Sadi Khan, underscores a growing belief in the potential of credit… Read More

January 20, 2026 @ 2:56 pm By JD Alois  |  

The Tax Foundation, a nonpartisan nonprofit that produces research on taxes, says the California wealth tax may be far more punitive than the stated 5% on the affluent’s holdings. As it stands now, a 5% tax on an individual’s worth will be applied if the… Read More

January 16, 2026 @ 4:17 pm By JD Alois  |  

California has a lot going for it. Beautiful beaches, mountains, and parks. Awesome weather. And the most powerful startup and innovation ecosystem in the world. And for some reason, the state of California is working hard to destroy its entrepreneurial hub of prosperity and growth… Read More

January 8, 2026 @ 1:53 pm By JD Alois  |  

A relatively new law allows the state of California to claim crypto holdings from accounts deemed inactive. SB 822, The Unclaimed Property Law (UPL), was signed into law by Governor Newsom last October. While the state must make efforts to discover legal holders, after three… Read More

January 6, 2026 @ 2:53 pm By Omar Faridi  |  

In an online environment where personal data has become quite a valuable commodity, California is said to now be leading the charge with a range of digital tools to enable individuals in managing their digital footprints. On January 1, 2026, the state introduced the Delete… Read More

January 2, 2026 @ 11:14 am By JD Alois  |  

Following California’s proposal of a new tax targeting affluent citizens, social media is abuzz with condemnations and reports of wealthy investors fleeing or plotting their exit from the state, where they helped drive phenomenal economic growth and prosperity. New York City is also expected to… Read More

July 24, 2025 @ 5:01 pm By JD Alois  |  

While San Francisco has earned a reputation as a dystopian left-wing policy disaster, it remains the hottest spot for tech funding in the US. This is according to a recent report from Tracxn, which claims that in California $94.8 billion was raised in the first… Read More

December 8, 2024 @ 11:03 pm By Tony Zerucha  |  

A co-author of the Consumer Financial Protection Act of 2010 believes California’s new earned-wage access (EWA) rule is a positive step that other states can look to when building their own rules. Tom Scanlon is now the general counsel and chief compliance officer at Rain,… Read More

December 3, 2024 @ 9:45 pm By Omar Faridi  |  

Finfare Inc., a Fintech focused on expense management, is marking its three-years of business operations with a brand refresh and several industry updates/milestones. According to the update shared with CI, the brand revamp reflects the company’s evolution and its commitment to its mission to transform… Read More

September 30, 2024 @ 9:15 pm By Michael Wong  |  

Lendistry, a minority-led fintech and Community Development Financial Institution (CDFI), announced today it has received a $5 million investment from City National Bank. The capital injection aims to expand the provision of individual loans under $100,000 to support the rapidly growing small business sector in… Read More

July 30, 2024 @ 7:44 am By Omar Faridi  |  

Pacaso, the real estate marketplace for co-owned luxury vacation homes, marks a significant milestone with the passage of a new ordinance by the Palm Springs City Council. This is the first city in California to “affirmatively recognize and regulate co-owned homes, ensuring they are thoughtfully… Read More

August 7, 2023 @ 8:43 am By Omar Faridi  |  

Ribbit Capital, a Palo Alto, California-headquartered venture capital firm, has reportedly secured around $800 million as part of its latest Fund. As noted in a regulatory form filed with the US Securities and Exchange Commission (SEC), there are a total of 247 investors that have… Read More

July 1, 2023 @ 6:06 pm By Omar Faridi  |  

Socure, the provider of digital identity verification solutions, has acquired Berbix, a San Francisco-based startup that developed a high-accuracy document verification solution with a patent-pending forensics engine “able to detect spoofed IDs – including AI-generated fakes – that are visually indistinguishable to the human eye.”… Read More

June 23, 2023 @ 9:22 am By Omar Faridi  |  

Robinhood Markets, Inc. (NASDAQ:HOOD) has entered into an agreement to acquire San Francisco-based X1 Inc., a platform that “offers a no-fee credit card with rewards on each purchase.” According to Robinhood, this marks “an important step in their journey towards broadening their product offerings and… Read More