Former Tether CIO Richard Heathcote Plans Stake Sale In Private Deal
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Former Tether CIO Richard Heathcote is marketing part of his 1.26% stake in the stablecoin issuer through PJT Partners in a private stake sale that could provide a rare market valuation for the non‑public company. Tether reported a $1.04 billion Q1 profit and $8.23 billion in excess reserves, reinforcing its financial position and suggesting positive implications for crypto confidence, fundraising and token valuation.
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- Former Tether CIO Richard Heathcote plans to sell part of his 1.26% stake.
- Private stake sale could offer a rare look at Tether’s market valuation today.
- Tether posted a $1.04 billion Q1 profit with excess reserves of $8.23 billion.
Richard Heathcote, the former Chief Investment Officer of Tether Holdings, is planning to sell part of his 1.26% stake in the stablecoin giant. He is working with investment bank PJT Partners and has already begun discussions with potential buyers, though no valuation has been disclosed.
A Rare Window Into Tether’s Private Value
Tether does not trade on any public exchange, making private secondary transactions one of the only ways the market can gauge what the company is actually worth. Earlier this year, Tether paused plans to raise capital at a valuation of up to $500 billion while it awaited the results of its first comprehensive…
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