Tether · Bloomberg · The Block
Tether’s former CIO seeks buyers for part of his stake in the firm: Bloomberg
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Former Tether Chief Investment Officer Richard Heathcote is seeking buyers for part of his 1.26% stake in the stablecoin issuer after stepping down from the role earlier this year, .
Key facts
- Heathcote joined Tether in January 2023 after previously working as a broker at Cantor Fitzgerald's BGC Group
- The potential sale comes after Tether earlier this year paused plans to raise money at a valuation as high as $500 billion, as the company awaits results of its first full financial audit conducted
- Former Tether Chief Investment Officer Richard Heathcote is seeking buyers for part of his 1.26% stake in the stablecoin issuer after stepping down from the role earlier this year
- The report did not disclose how much of the 1.26% stake is being offered for sale or a potential valuation
Summary
Heathcote is working with investment bank PJT Partners on the planned secondary sale, and discussions with potential buyers are ongoing, citing people familiar with the matter. The report did not disclose how much of the 1.26% stake is being offered for sale or a potential valuation. Heathcote joined Tether in January 2023 after previously working as a broker at Cantor Fitzgerald's BGC Group. The potential sale comes after Tether earlier this year paused plans to raise money at a valuation as high as $500 billion, as the company awaits results of its first full financial audit conducted by a Big Four accounting firm.