Tether's Former CIO Richard Heathcote Plans to Sell ~1.26% Stake With PJT Running the Process
- Richard Heathcote, who stepped down as Tether's CIO to an advisory role in March 2026, has hired PJT Partners to sell roughly 1.26% of the stablecoin issuer, with the sale approved by Tether (Bloomberg). >- The deal offers a rare window into Tether's ownership at a moment when the company is undergoing its first full financial audit, a milestone regulators and counterparties have long pressed for. >- A successful secondary would mark one of the first insider liquidity events in the stablecoin sector and could set a reference valuation as institutional demand for USDT exposure grows.