Richard Heathcote, Tether Holdings SA’s former chief investment officer, is planning to sell a small portion of his equity stake in the stablecoin issuer, according to a Monday Bloomberg report citing people familiar with the matter. Bloomberg said Heathcote is working with investment bank PJT Partners to market part of his 1.26% holding in Tether, with discussions already underway with potential buyers. No buyer has been identified publicly, and no final price has been disclosed.
The planned sale follows an executive transition announced by Tether in March. At that time, the company said Heathcote would step down from the CIO role and move into a non-executive advisory position, while his deputy, Zachary Lyons, would take over. During his tenure, Heathcote oversaw the reserves backing USDT, which remains the largest stablecoin by circulating supply, and led a broad investment push that included stakes in soccer clubs and humanoid robotics ventures.
Bloomberg noted that Tether has historically revealed little about its capitalization table or executive ownership. As a result, the sale process could offer one of the clearest public glimpses yet into the company’s ownership structure below the founder level. Tether did not comment in Bloomberg’s report, and Heathcote was not immediately reachable through company channels.
Former Tether executive explores stake sale
Richard Heathcote, who served as chief investment officer of Tether Holdings SA until earlier this year, is planning to sell a small portion of his stake in the stablecoin issuer, according to a Monday Bloomberg report citing people familiar with the matter.
Bloomberg reported that Heathcote is working with investment bank PJT Partners to sell part of his 1.26% holding in Tether. Talks with prospective buyers are underway, but the report said no final buyer or transaction price has been disclosed.
Role changed in March
Tether said in March that Heathcote would step down as CIO and move into a non-executive advisory role, giving up day-to-day duties. His deputy, Zachary Lyons, took over the position.
During his time as CIO, Heathcote oversaw the reserves backing USDT, the largest stablecoin by circulating supply. Bloomberg’s March reporting also said he led an aggressive investment push that included stakes in soccer clubs and humanoid robotics ventures.
Ownership details rarely surface
Tether has historically disclosed little about its capitalization table or about the equity stakes held by executives. A sale process handled through a Wall Street bank offers one of the first concrete signals of how ownership is arranged below the company’s founders. If a transaction price later becomes public, it could also provide a market-based valuation reference.
The planned sale comes while Tether’s stablecoin business still leads the sector, with USDT remaining the largest stablecoin by circulating supply. Bloomberg did not disclose the dollar size of the stake being marketed and did not identify any prospective buyers.
Tether did not comment in Bloomberg’s report, and Heathcote could not immediately be reached through the company’s channels.
This article was originally published by Bit.Fan. For more cryptocurrency news and market insights, visit www.bit.fan. Disclaimer:
The market information, project data, and third-party content displayed on this platform are for industry information sharing only and do not constitute any form of investment advice or return commitment.
Cryptocurrency trading carries high risks. Users should fully assess their risk tolerance and make independent decisions. All profits, losses, and legal responsibilities are borne by the users themselves.
