According to the New York Times, the Senate Finance Committee is investigating whether Pantera Capital founder Dan Morehead violated federal tax laws after moving to Puerto Rico, a tax haven. According to a letter released by the Senate Finance Committee, Morehead sold a "substantial stake" after moving to Puerto Rico, receiving capital gains of "more than $1 billion." The committee asked Morehead to share information related to the transactions, including the names of his tax advisors. The letter also asked him to provide a list of all assets he sold while living in Puerto Rico, including cryptocurrencies. Morehead said in a statement that he moved to Puerto Rico in 2021 and believes it has taken appropriate action on taxes. A spokesperson for Senator Ron Wyden, Democrat of Oregon, said the investigation is still ongoing and declined to comment further.