Tether Holdings SA’s former Chief Investment Officer Richard Heathcote is set to divest a portion of his 1.26% ownership, Bloomberg disclosed, and has engaged PJT Partners to locate a purchaser.
Stake Sale Details
Heathcote resigned from the CIO post in March 2026 and now serves in an advisory capacity for the stablecoin issuer. During his tenure he managed a portfolio approaching $150 billion, positioning him among the most influential fixed‑income managers in crypto. The proposed sale remains in its early negotiation phase, with no buyer identified and no price publicly announced.
Implications for Tether and Investors
Tether’s USDT token, which maintains a near‑$1 price peg, circulates roughly $184 billion, underscoring the significance of even a modest equity stake. The company is reportedly assessing a potential $50 billion fundraising round, a move that could reshape its capital structure and affect blockchain investors. Because Tether is privately held, the transaction will occur via a negotiated secondary sale, a process PJT Partners—an advisory firm spun out of Blackstone—handles for multi‑billion‑dollar deals.