Tether Insider Sells Stake Amid European Regulatory Crackdown

The former chief investment officer of Tether, Richard Heathcote, is planning to sell part of his stake in the stablecoin issuer, according to a report by Bloomberg.

Heathcote holds 1.26% of Tether and plans to sell only a portion of this ownership, not the entire amount.

Tether remains privately held despite being one of the most profitable businesses in crypto, with its stablecoin USDt dominating the market capitalization at around $184 billion or approximately 59% market share.

The sale is notable due to Heathcote's senior role and because it provides a rare glimpse into Tether's ownership structure.