Former Tether CIO Richard Heathcote Moves to Sell Stake in Stablecoin Giant

Richard Heathcote, who served as Tether’s chief investment officer before stepping into an advisory role in March, is looking to sell part of his 1.26% ownership stake in the company, according to a Bloomberg report citing sources familiar with the matter. The report notes only a portion of his holding is up for sale, not the full stake.

Rare Window Into Tether’s Ownership

Tether remains privately held despite issuing USDT, the world’s largest stablecoin with a circulating supply near $184 billion and roughly 59% of the stablecoin market. Any sale could offer outsiders a rare glimpse into how ownership is valued at one of crypto’s most profitable firms.

Tether Still Rules Out Going Public

CEO Paolo Ardoino has said the company has no need for an IPO. That stance comes as Tether faces regulatory pushback in Europe, where several MiCA-authorized platforms have delisted USDT after the company declined to comply with EU crypto rules, including Revolut this month.

Other Exchanges Weigh Public Listings

Kraken has taken steps toward an IPO after raising $500 million at a $15 billion valuation, though reports suggest its listing could slip to 2027. Bithumb has pushed its own IPO plans past 2028 to strengthen internal controls.