FinanceRichard Heathcote, the previous Chief Investment Officer at Tether, is reportedly looking to divest a portion of his 1.26% stake in the stablecoin company, as reported by Bloomberg.
Heathcote Collaborating with PJT Partners to Secure Buyers
According to sources familiar with the situation, Heathcote is enlisting the help of PJT Partners to identify potential buyers for his stake in the San Salvador-based company. The exact monetary value of the stake has not been disclosed, but talks with interested parties are currently underway.
Heathcote transitioned to a non-executive advisory position at Tether, the issuer of USDT, the largest stablecoin by market capitalization, in March, after which Zachary Lyons took over his role.
Earlier in February, Tether had to reconsider its plans to raise as much as $20 billion following investor pushback against a proposed valuation of $500 billion that would place the company among the highest-valued private firms globally. Subsequently, the company's advisors sought to raise $5 billion instead. Tether reported a net profit exceeding $10 billion for the year 2025.
Neither Tether nor PJT Partners provided a comment when approached by CoinDesk, and Heathcote has not been reachable for comments.
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