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
-
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.
-
Who is running the block sale?
Heathcote has retained investment bank PJT Partners to find buyers, according to Bloomberg.
-
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.
-
How much of Tether does Heathcote own?
Heathcote holds a 1.26% stake in Tether, according to Bloomberg.
-
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.
WuBlockchain
Lookonchain
CoinDesk
Crypto Rank News