Senate Investigates Pantera Capital Founder Over Tax Compliance

According to BlockBeats, the U.S. Senate Finance Committee is investigating whether Dan Morehead, founder of Pantera Capital, violated federal tax laws after relocating to Puerto Rico, a known tax haven. The New York Times reported on February 15 that the committee has issued a letter requesting Morehead to provide information related to his financial transactions following his move. The committee's letter indicates that Morehead sold a significant amount of shares, resulting in capital gains exceeding $1 billion. It has asked Morehead to disclose details of these transactions, including the identity of his tax advisor. Additionally, the letter requests a comprehensive list of all assets sold during his residency in Puerto Rico, including cryptocurrencies. In a statement, Morehead confirmed his relocation to Puerto Rico in 2021 and asserted that he has taken appropriate actions regarding his tax obligations. A spokesperson for Oregon Democratic Senator Ron Wyden stated that the investigation is ongoing but declined to provide further comments.