Former Tether CIO seeks to sell stake in stablecoin issuer, Bloomberg reports
Summary
Former Tether chief investment officer Richard Heathcote is reportedly planning to sell part of his 1.26% stake in Tether after stepping down in March and moving into an advisory role. The sale would be a rare glimpse into ownership of the privately held stablecoin issuer. Tether’s USDT remains the largest stablecoin, with about $184 billion in circulation and roughly 59% of the market. The news comes as Tether faces regulatory pressure in Europe, where USDT has been delisted from more MiCA-compliant platforms after Tether chose not to follow the EU’s crypto framework; Revolut also said it will remove USDT. Meanwhile, other crypto firms such as Kraken and Bithumb are still considering or delaying IPO plans.
