TheBlock
Richard Heathcote, Tether's former Chief Investment Officer, is exploring a partial sale of his 1.26% stake in the company through investment bank PJT Partners, according to Bloomberg. The block would mark one of the first publicly visible secondary-market transactions in Tether, the issuer of USDT, which remains privately held.
The sale, if completed, would give Heathcote a window to monetize a slice of a stake that has appreciated sharply as USDT's circulating supply and Tether's profit base have grown. Heathcote has previously stepped back from day-to-day operations at Tether, which is run by CEO Paolo Ardoino and a wider executive team, and the firm itself is not a party to the transaction.
Frequently asked questions
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Who is selling their stake in Tether?
Richard Heathcote, Tether's former Chief Investment Officer, is exploring the sale of part of his 1.26% stake in the firm.
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Who is running the block sale?
Heathcote has retained investment bank PJT Partners to find buyers, according to Bloomberg.
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Is Tether itself involved in the sale?
No. The firm is not a party to the transaction; this is a personal secondary-market sale by Heathcote, not a company-level share issuance.
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How much of Tether does Heathcote own?
Heathcote holds a 1.26% stake in Tether, according to Bloomberg.
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Why is a Tether stake valuable right now?
Tether remains privately held and its valuation has risen alongside USDT's circulating supply and the firm's profit base over the past two years.
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