Key facts
- Richard Heathcote is Tether's former chief investment officer.
- Heathcote holds a 1.26% stake in Tether.
- Heathcote is reportedly seeking to sell part of his stake.
- He is working with advisory firm PJT Partners.
- PJT Partners will help find buyers for his holdings.
Richard Heathcote, who previously served as Tether's chief investment officer, is reportedly exploring the sale of a portion of his ownership in the stablecoin issuer. Heathcote holds a 1.26% stake in Tether. To facilitate this potential sale, he has enlisted the services of the advisory firm PJT Partners. PJT Partners is expected to work with Heathcote to identify and connect with prospective buyers for his shares. The specific quantity of the stake that Heathcote intends to sell has not been publicly revealed. This move comes as individuals with significant holdings in major financial entities sometimes seek to diversify or liquidate their investments.