business
Former Tether executive seeks buyer for part of stake after leadership change
Richard Heathcote is working with PJT Partners to sell a portion of his holding in the San Salvador-based issuer of USDT. The effort follows his March 2026 transition from chief investment officer to a non-executive advisory role.
Jul 7, 9:46 AM·1m read1 source
CoinDeskAudio version
Tap play to generate a narrated version.
Developing·Limited corroboration so far. This page will refresh as more sources emerge.
Richard Heathcote is seeking to sell part of his 1.26% stake in Tether, the issuer of USDT, CoinDesk reported, citing Bloomberg. Heathcote is working with advisory firm PJT Partners to identify a buyer for the holding in the San Salvador, El Salvador-based company. Heathcote stepped down as chief investment officer in March 2026 and moved into a non-executive advisory role.
Zachary Lyons replaced him in the chief investment officer position. Tether scaled back plans in February 2026 to raise as much as $20 billion after investors resisted a proposed $500 billion valuation. The company later pursued a $5 billion fundraising round.
Tether reported full-year profit of more than $10 billion for 2025. Tether, PJT Partners and Heathcote did not respond or declined to comment on the reported stake sale.
Transparency
How sources framed this
Single source — no framing comparison available.
CorroborationModerate · 1 source
