Former Tether CIO Richard Heathcote explores partial sale of his 1.26% stake with PJT Partners brokering talks with prospective buyers.
VC & Fundraising ·
Richard Heathcote, formerly chief information officer at Tether, is pursuing a partial sale of his 1.26% ownership stake in the stablecoin issuer. PJT Partners is brokering discussions with potential buyers regarding the transaction.
The move marks a liquidity event for an executive who held a significant equity position in one of crypto's most influential infrastructure companies. Tether has grown into a sprawling operation spanning stablecoin issuance, tokenized assets, and broader ventures across mining, AI, and blockchain applications, with USDT commanding roughly 60% of the global stablecoin market.
The extent of Heathcote's intended divestment—whether he plans to sell the entirety or only a portion of his stake—remains unspecified. Likewise, no timeline for completion or valuation metrics for the transaction have been disclosed.