Former Tether Investment Chief Plans to Sell Portion of Stake in USDT Issuer
Richard Heathcote, the former chief investment officer at Tether, is reportedly looking to sell a small part of his 1.26% stake in the company, according to Bloomberg. Heathcote has transitioned to an advisory role and is working with PJT Partners to find potential buyers.
Richard Heathcote, who previously held the position of chief investment officer at Tether, is seeking to divest a portion of his 1.26% stake in the stablecoin issuer, USDT. Bloomberg reports that he is collaborating with the advisory firm PJT Partners to identify buyers for this stake. The exact valuation of this sale is currently undisclosed.
Heathcote's shift to a non-executive advisory role occurred in March, when he was succeeded by Zachary Lyons. This divestment comes amidst Tether’s attempts to strategically position itself, having previously explored plans to raise $20 billion before scaling back due to investor pushback regarding a proposed $500 billion valuation.
In late 2025, Tether reported a profit exceeding $10 billion, underscoring its strong market position as the largest stablecoin by market capitalization. The ongoing discussions concerning Heathcote's stake reflect broader dynamics in the crypto market, which has seen a fluctuating interest in stablecoins and investment strategies. As of now, both Heathcote and PJT Partners have not provided comments on the matter.
Summary based on original reporting by Olivier Acuna at CoinDesk, originally published Jul 7, 2026. SolanaWire does not republish source content.
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