Summary
- 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.
Former Tether Investment Chief Looks to Sell Stake
Richard Heathcote, the former chief investment officer of Tether, is planning to sell part of his 1.26% stake in the stablecoin giant. This move comes after Heathcote took on a non-executive advisory role in March. As the largest stablecoin by market capitalization, Tether’s valuation is of great interest to potential buyers and investors. The sale is being facilitated by PJT Partners, with discussions ongoing with potential buyers. Earning a significant amount from the sale could lead to a substantial passive income for Heathcote.
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Tether did not respond to a CoinDesk request for comment. PJT Partners declined to comment. Heathcote could not be reached.
