Tether Shares Sale: Ex-CIO Richard Heathcote Cuts His Stake Size

Executive Advisory Shift Shifts Focus to Private Tether Shares Sale

Richard Heathcote, the former Chief Investment Officer of Tether, is selling part of his Tether shares. Bloomberg reported the news on July 6, 2026. Heathcote owns 1.26% of Tether Holdings SA, the company behind USDT, and he wants to trim that stake now. 

Why Richard Heathcote Is Selling Part of His Stake Now 

Heathcote stepped down as the firm's Chief Investment Officer in March 2026. He moved into an advisory role instead. Selling shares after a move like this happens often in finance, since executives usually free up wealth once they leave daily operations.

The board has already approved this sale. That approval matters because it shows the company supports Heathcote cashing out part of his position. No price or valuation has come out yet for the deal.

The timing lines up with another big story at the USDT supplier. The company paused a financing plan earlier this year that had targeted a valuation up to $500 billion. The company wants to wait for its first full financial audit before moving forward on that front.

How the PJT Partners Deal for Shares Could Move Forward Soon 

Heathcote hired PJT Partners to run the sale process. PJT Partners is a well known advisory firm that handles deals like this for private companies. The firm now talks with possible buyers about the stake.

Since the firm stays private, deals like this happen behind closed doors. A few points explain how this works:

• PJT Partners looks for institutional buyers or private investors interested in Tether shares

• No public price gets set since Tether does not trade on a stock exchange

• The company's board already gave the green light for the transaction

What This Sale Means for the USDT Peg and Broader Market Trust Today

USDT holders should not expect changes to the token itself. As of July 7, 2026, USDT trades close to $1.00 and its market cap sits near $184 billion. The stablecoin still holds around 59% of the total stablecoin market.

An ownership change at the executive level does not touch USDT's reserves or its backing. Tether keeps its reserves mostly in U.S. Treasuries and gold, and that structure stays the same no matter who owns how much of the parent company.

Past leadership changes at the USDT firm give a good comparison point. When Zachary Lyons took over as CIO in March 2026, the peg held steady with no disruption.

What Comes Next: After the Audit and Fresh Stake Sale News

The USDT firm still waits on its first full audit from a major accounting firm. That audit result could shape the next steps for both the paused $500 billion financing round and future stake sales.

Heathcote's exit from part of his stake could open the door for new investors to enter Tether's ownership structure. A clean sale, backed by proper due diligence, may support the company's push for more transparency going forward.

Disclaimer: This article is for informational purposes only and does not constitute financial or investment advice. Crypto markets carry significant risk. Always do your own research before making any investment decisions.