Dan Morehead, the CEO of Pantera Capital, has recently come under scrutiny for his decision to move to Puerto Rico in 2021. Many have questioned whether this move was motivated by tax avoidance, as Puerto Rico offers significant tax benefits for individuals and businesses.

In response to these accusations, Morehead has released a statement defending his actions. He maintains that he acted appropriately with respect to his taxes and that his move to Puerto Rico was not solely for tax purposes.

Morehead explains that he has been a long-time advocate for blockchain technology and has been actively involved in the cryptocurrency industry for over a decade. He saw Puerto Rico as an ideal location to continue his work and contribute to the growth of the industry.

The CEO also points out that Puerto Rico offers a favorable business environment, with a growing tech and startup scene. This, combined with the tax benefits, made it a logical choice for him to relocate his business and personal life.

However, Morehead acknowledges that the tax benefits were a factor in his decision. He states that as a responsible business owner, it is his duty to minimize his tax burden and maximize the potential for growth and success. Moving to Puerto Rico allowed him to do just that, while also supporting the local economy and creating job opportunities.

Despite the controversy surrounding his move, Morehead remains committed to his work and the future of blockchain technology. He believes that Puerto Rico has the potential to become a hub for innovation and is excited to be a part of its growth.

In conclusion, while some may question his motives, Dan Morehead stands by his decision to move to Puerto Rico and is confident that it was the right move for both himself and his business. Only time will tell if his prediction of Puerto Rico’s potential as a blockchain hub will come to fruition.