Senator Wyden Intensifies Tax Evasion Probe Into Pantera Capital Founder
U.S. Senator Ron Wyden, chair of the Senate Finance Committee, is escalating his investigation into Dan Morehead, founder of crypto asset manager Pantera Capital, over allegations of tax avoidance tied to a relocation to Puerto Rico. The probe centers on whether Morehead misrepresented his residency status to evade U.S. taxes on hundreds of millions in capital gains from cryptocurrency sales.
Wyden's letter alleges Morehead claimed exemption on $1 billion+ in Pantera's crypto sale profits by asserting Puerto Rican residency—a territory with no capital gains tax—while evidence suggests the gains accrued during his California residency. "These are serious allegations of potential abuse," Wyden warned, noting Morehead's legal team has ceased cooperation.
