If that was bronze, the green is perfectly normal, and the white is salts from a small leak. However, yours is brass, and appears like it may have a serious problem that should be addressed immediately. I base that on the pink spot on the threads connecting that T fitting into the valve. Pink means the brass is corroding by loss of zinc, and the water looks like it may be leaking from there. If that is the case, that fitting is in danger of snapping off. I'd keep the valve shut.
It's possible that pink is a trick of the light, and the hose above it is also leaking, so maybe the fitting is fine and the leak just needs to be addressed.
If it was mine, I'd shut the valve and remove the fittings for inspection. The valve is stainless and should be fine. I can't tell what the thruhull material is. If also brass, then that could have an issue too.
Mark
It's possible that pink is a trick of the light, and the hose above it is also leaking, so maybe the fitting is fine and the leak just needs to be addressed.
If it was mine, I'd shut the valve and remove the fittings for inspection. The valve is stainless and should be fine. I can't tell what the thruhull material is. If also brass, then that could have an issue too.
Mark