Former Tether investment chief is looking to sell part of his stake in the stablecoin giant: Bloomberg

Finance Former Tether investment chief is looking to sell part of his stake in the stablecoin giant: Bloomberg Richard Heathcote is reportedly working with PJT Partners to find a buyer for a small part of his 1.26% holding in the issuer of USDT following his transition to an advisory role. By Olivier Acuna | Edited by Sheldon Reback Jul 7, 2026, 1:46 p.m. 1 min read Make preferred on Share Share this article Copy link X icon X (Twitter) LinkedIn Facebook Email Make preferred on Tether CEO Paolo Ardoino (Nikhilesh De/CoinDesk) Summary Show Richard Heathcote, Tether’s former chief investment officer, is seeking to sell part of his 1.26% stake in the stablecoin issuer, according to Bloomberg. Heathcote is working with advisory firm PJT Partners to find buyers for his holding in the San Salvador-based company. The value of the stake was not disclosed. Richard Heathcote, who until March was Tether’s chief investment officer, is planning to sell part of his 1.26% stake in the stablecoin giant, according to a Bloomberg report . Heathcote is working with PJT Partners to sell his holding in the San Salvador, El Salvador-based company, Bloomberg said, citing sources close to the matter. The sources said discussions with potential buyers were ongoing. They declined to comment on the company’s potential valuation. Heathcote took on a non-executive advisory role at the issuer of USDT, the largest stablecoin by market capitalization, in March, and was replaced by his deputy Zachary Lyons. In February, Tether scaled back from plans to raise as much as $20 billion after facing investor resistance to a proposed $500 billion valuation that would rank the stablecoin issuer among the world’s most valuable private companies. Tether advisers then followed up with plans to raise $5 billion. Tether reported a full-year profit of more than $10 billion for 2025. Tether did not respond to a CoinDesk request for comment. PJT Partners declined to comment. Heathcote could not be reached. Tether Related Assets Bitcoin $ 63,033.43 2.14 % Latest Crypto News 1 Bitcoin, XRP draw Japanese firms as weak yen drives treasury diversification 19 minutes ago 2 Coinbase secures UK authorization to offer traditional investments alongside crypto 2 hours ago 3 Bitcoin's July gains may be fleeting as U.S. demand stays weak 2 hours ago 4 Bitcoin stalls as open interest decline raises questions about rally's staying power 3 hours ago 5 Binance taps into Bitcoin holders’ hunger for yield with new covered call yield play 5 hours ago 6 Bitcoin's recent macro relief faces a challenge from Japanese interest rates 5 hours ago 7 Live markets: Samsung earnings miss sparks uncertainty as bitcoin dips below $64,000 6 hours ago 8 BONK faces $20 million treasury drain after attacker spends $4 million to pass malicious proposal 8 hours ago 9 XRP stalls near $1.14 as breakout attempt struggles for volume 9 hours ago 10 Bitcoin drops after a run at $64,000, shrugging off Strategy's $213 million BTC sale 9 hours ago Latest Research SpaceX IPO Drives Tokenized Equity Volumes to Record as Stablecoin Market Cap Falls SpaceX IPO Drives Tokenized Equity Volumes to Record as Stablecoin Market Cap Falls Stablecoin market cap fell to $312B in June, its largest monthly drop since TerraUSD, while tokenized equity volumes surged 145% to a record $3.86B. By CoinDesk Research 46 minutes ago Stablecoin market cap fell to $312B in June, its largest monthly drop since TerraUSD, while tokenized equity volumes surged 145% to a record $3.86B. Why it matters : Stablecoin market cap fell to $312B in June, its largest monthly drop since TerraUSD, while tokenized equity volumes surged 145% to a record $3.86B. View Full Report More From Finance Coinbase secures UK authorization to offer traditional investments alongside crypto Circle’s USDC is leaving Tether behind in the stablecoin volume race, new data from Visa shows Securitize eyes acquisitions with $400 million war chest after going public, CEO says More From Bitcoin Bitcoin, XRP draw Japanese firms as weak yen drives treasury diversification Coinbase secures UK authorization to offer traditional investments alongside crypto Bitcoin's July gains may be fleeting as U.S. demand stays weak