US Senate accuses Pantera founder Dan Morehead of cashing out more than $1 billion without paying taxes

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.