In brief
- Sen. Ron Wyden (D-OR) alleged Wednesday that Pantera Capital founder Dan Morehead may have used Puerto Rican residency to improperly dodge U.S. taxes, and has avoided cooperating with an investigation into the matter for months.
- In a letter sent this week, Wyden said Morehead’s attorneys “have all but disappeared” since pledging to cooperate with the inquiry in January.
- Meanwhile, Pantera has greatly expanded its crypto footprint, including by launching a $1.25 billion Solana treasury company on Wall Street.
The top Democrat on the Senate Finance Committee has accused a prominent crypto investor of refusing to cooperate with an investigation into an alleged billion-dollar tax evasion scheme running through one of the digital asset community’s most popular enclaves: Puerto Rico.
Sen. Ron Wyden (D-OR) first opened an investigation into the finances of Pantera Capital founder Dan Morehead in January, as part of a broader inquiry into how “ultra-high net worth” Americans have used Puerto Rican residency as a means to obtain lucrative tax exemptions.
Wyden had not previously publicly announced that investigation until now, however. This week, the senator blasted Morehead in a published letter accusing the hedge fund manager and crypto investor of refusing to cooperate with the Senate’s investigation into his finances.
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Author: Sander Lutz
