Dan Morehead, founder of Pantera Capital, is under investigation for alleged tax violations related to 850 million USD in crypto profits gained after relocating to Puerto Rico. Senator Ron Wyden suggests the profits, as US source income, should be reported on US tax returns.

Morehead asserts he has complied with tax regulations and moved to Puerto Rico in 2021 for valid reasons. The scrutiny comes amidst a broader examination of cryptocurrency taxation and its compliance in the United States.