The U.S. Senate accuses Pantera founder of cashing out over $1 billion through immigration and failing to pay taxes properly

2025-02-15 10:53:00

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ChainCatcher news, according to U.S. media reports, the Senate Finance Committee is investigating whether Dan Morehead, founder of Pantera Capital, violated federal tax laws after moving to the tax haven of Puerto Rico.

According to a letter released by the Senate Finance Committee, Morehead sold "a large number of shares" after relocating to Puerto Rico, resulting in "over $1 billion" in capital gains. The committee has requested that Morehead share information related to these transactions, including the name of his tax advisor. The letter also asks him to provide a list of all assets sold during his residency in Puerto Rico, including cryptocurrencies.

Morehead stated in a declaration that he moved to Puerto Rico in 2021 and believes he has taken appropriate actions regarding his taxes. A spokesperson for Oregon Democratic Senator Ron Wyden stated that the investigation is ongoing and declined to comment further.

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