The US Senate Finance Committee sent a letter asking Pantera Capital founder Dan Morehead for information on more than $850 million in crypto profits.
Pantera Capital founder Dan Morehead received a letter from the US Senate Finance Committee (SFC) requesting information on over $850 million in profits earned after moving to Puerto Rico in 2020. The SFC reportedly said in a letter that the executive may have treated the profits as exempt from US tax.
The SFC said it is investigating tax compliance among wealthy Americans who have moved to Puerto Rico. The government agency added that in most cases, the majority of gains are from US income sources and are subject to US taxes.
In a statement, Morehead said he “acted appropriately” concerning his taxes.
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