{"id":36669,"date":"2025-02-15T19:00:19","date_gmt":"2025-02-15T16:00:19","guid":{"rendered":"https:\/\/coinengineer.net\/blog\/?p=36669"},"modified":"2025-02-15T18:44:49","modified_gmt":"2025-02-15T15:44:49","slug":"pantera-capital-founder-faces-850m-tax-probe","status":"publish","type":"post","link":"https:\/\/coinengineer.net\/blog\/pantera-capital-founder-faces-850m-tax-probe\/","title":{"rendered":"Pantera Capital Founder Faces $850M Tax Probe"},"content":{"rendered":"<p><a href=\"https:\/\/coinengineer.net\/blog\/over-600k-tokens-were-launched-in-january-increasing-liquidity-concerns\/\"><strong>Pantera Capital founder Dan Morehead<\/strong><\/a> is under federal tax investigation after moving to the tax haven of Puerto Rico.<\/p>\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_71 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 eztoc-toggle-hide-by-default' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/coinengineer.net\/blog\/pantera-capital-founder-faces-850m-tax-probe\/#Pantera_Capital_Founder_Faces_Tax_Investigation\" title=\"Pantera Capital Founder Faces Tax Investigation\">Pantera Capital Founder Faces Tax Investigation<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/coinengineer.net\/blog\/pantera-capital-founder-faces-850m-tax-probe\/#Pantera_Capital_and_Crypto_Investments\" title=\"Pantera Capital and Crypto Investments\">Pantera Capital and Crypto Investments<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/coinengineer.net\/blog\/pantera-capital-founder-faces-850m-tax-probe\/#Crypto_Taxation_Under_Regulatory_Scrutiny\" title=\"Crypto Taxation Under Regulatory Scrutiny\">Crypto Taxation Under Regulatory Scrutiny<\/a><\/li><\/ul><\/nav><\/div>\n<h2 data-start=\"0\" data-end=\"53\"><span class=\"ez-toc-section\" id=\"Pantera_Capital_Founder_Faces_Tax_Investigation\"><\/span>Pantera Capital Founder Faces Tax Investigation<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p data-start=\"55\" data-end=\"263\">On January 9, the <strong>U.S. Senate Finance Committee (SFC)<\/strong> sent a letter to<strong> Dan Morehead<\/strong> requesting information regarding the $850 million in investment profits he earned after relocating to Puerto Rico in 2020.<\/p>\n<p data-start=\"265\" data-end=\"412\">According to a letter from <strong>Senator Ron Wyden<\/strong>, seen by The New York Times, Morehead may have classified these profits as exempt from U.S. taxes.<\/p>\n<p data-start=\"414\" data-end=\"580\"><strong>The SFC<\/strong> is investigating whether wealthy Americans have improperly used Puerto Rico\u2019s tax incentives to avoid paying U.S. taxes on income earned outside the island.<\/p>\n<p data-start=\"582\" data-end=\"735\">The letter states: <em data-start=\"601\" data-end=\"733\">&#8220;In most cases, the majority of the gain is actually U.S. source income, reportable on U.S. tax returns, and subject to U.S. tax.&#8221;<\/em><\/p>\n<p data-start=\"737\" data-end=\"875\">In response, Morehead stated, <em data-start=\"767\" data-end=\"828\">&#8220;I believe I acted appropriately with respect to my taxes,&#8221;<\/em> adding that he moved to Puerto Rico in 2021.<\/p>\n<h2 data-start=\"877\" data-end=\"925\"><span class=\"ez-toc-section\" id=\"Pantera_Capital_and_Crypto_Investments\"><\/span>Pantera Capital and Crypto Investments<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p data-start=\"927\" data-end=\"1144\">Founded by <strong>Morehead, Pantera Capital<\/strong> is recognized as the first cryptocurrency fund in the U.S. In a blog post dated November 26, 2024, he claimed that the firm&#8217;s initial investments had grown by more than 130,000%.<\/p>\n<p data-start=\"1146\" data-end=\"1440\">Morehead launched the<strong> Pantera Bitcoin Fund<\/strong> in July 2013, purchasing Bitcoin at $74 per coin, and stated that the investment has since yielded returns exceeding 1,000 times the initial purchase price. He also noted that, at the time, only 1% of global financial wealth had exposure to Bitcoin.<\/p>\n<p data-start=\"1442\" data-end=\"1626\">Currently, Pantera Capital manages over $5 billion in assets. According to its website, the firm has invested in over 100 ventures, with 47% of its capital allocated outside the U.S.<\/p>\n<h2 data-start=\"1628\" data-end=\"1679\"><span class=\"ez-toc-section\" id=\"Crypto_Taxation_Under_Regulatory_Scrutiny\"><\/span>Crypto Taxation Under Regulatory Scrutiny<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p data-start=\"1681\" data-end=\"1915\">The investigation into<strong> Morehead<\/strong> comes amid increased regulatory scrutiny of cryptocurrency taxation. In June 2024, the <strong>Internal Revenue Service (IRS)<\/strong> introduced a new rule requiring third-party tax reporting for crypto transactions.<\/p>\n<p data-start=\"1917\" data-end=\"2162\">Starting in 2025,<strong> centralized crypto exchanges (CEXs)<\/strong> and other brokers will be required to report the sales and exchanges of digital assets. However, this move could push investors toward decentralized platforms, complicating tax enforcement.<\/p>\n<p data-start=\"2164\" data-end=\"2407\" data-is-last-node=\"\">In response, the <strong>Blockchain Association<\/strong> filed a lawsuit against the IRS in December 2024, arguing that including decentralized exchanges under the \u201cbroker\u201d classification is unconstitutional and unlawfully extends data collection requirements.<\/p>\n<hr \/>\n<p><em>Also, you can freely share your thoughts and comments about the topic in the comment section. Additionally, don\u2019t forget to follow us on our\u00a0<a href=\"https:\/\/t.me\/coinengineernews\" target=\"_blank\" rel=\"noreferrer noopener nofollow\"><strong>Telegram<\/strong>\u00a0 ,<\/a><a href=\"https:\/\/www.youtube.com\/@CoinEngineer\" target=\"_blank\" rel=\"noreferrer noopener nofollow\"><strong>YouTube<\/strong><\/a>\u00a0and\u00a0<a href=\"https:\/\/twitter.com\/coinengineers\" target=\"_blank\" rel=\"nofollow noopener\"><strong>Twitter<\/strong><\/a> channels for the latest <a title=\"News\" href=\"https:\/\/coinengineer.net\/blog\/news\/\" data-internallinksmanager029f6b8e52c=\"7\">news<\/a> and updates.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Pantera Capital founder Dan Morehead is under federal tax investigation after moving to the tax haven of Puerto Rico. Pantera Capital Founder Faces Tax Investigation On January 9, the U.S. Senate Finance Committee (SFC) sent a letter to Dan Morehead requesting information regarding the $850 million in investment profits he earned after relocating to Puerto<\/p>\n","protected":false},"author":29,"featured_media":36671,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9],"tags":[2405,9723,11741,6554,2184,11742],"class_list":["post-36669","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto-news","tag-dan-morehead","tag-pantera-bitcoin-fund","tag-pantera-capital-founder","tag-senator-ron-wyden","tag-tax","tag-u-s-senate-finance-committee-sfc"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Pantera Capital Founder Faces $850M Tax Probe - Coin Engineer<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/coinengineer.net\/blog\/pantera-capital-founder-faces-850m-tax-probe\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Pantera Capital Founder Faces $850M Tax Probe - Coin Engineer\" \/>\n<meta property=\"og:description\" content=\"Pantera Capital founder Dan Morehead is under federal tax investigation after moving to the tax haven of Puerto Rico. 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