Bloomberg · SpaceX · Tether · CoinDesk
Richard Heathcote, who until March was Tether’s chief investment officer
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Heathcote is working with PJT Partners to sell his holding in the San Salvador, El Salvador-based company, citing sources close to the matter.
Key facts
- In February, Tether scaled back from plans to raise as much as $20 billion after facing investor resistance to a proposed $500 billion valuation that would rank the stablecoin issuer
- Stablecoin market cap fell to $312B in June, its largest monthly drop since TerraUSD, while tokenized equity volumes surged 145% to a record $3.86B
- Tether reported a full-year profit of more than $10 billion for 2025
- Heathcote is working with PJT Partners to sell his holding in the San Salvador, El Salvador-based company, citing sources close to the matter
Summary
Richard Heathcote, Tether’s former chief investment officer, is seeking to sell part of his 1.26% stake in the stablecoin issuer, . Heathcote is working with advisory firm PJT Partners to find buyers for his holding in the San Salvador-based company. Richard Heathcote, who until March was Tether’s chief investment officer, is planning to sell part of his 1.26% stake in the stablecoin giant, according to a Bloomberg report. Heathcote took on a non-executive advisory role at the issuer of USDT, the largest stablecoin by market capitalization, in March, and was replaced by his deputy Zachary Lyons.