Tether Insider Seeks to Unload Stake Amid Regulatory Scrutiny

Former Tether Chief Investment Officer Richard Heathcote is reportedly looking to sell part of his 1.26% stake in the stablecoin issuer. This comes after he stepped down from his role as CIO in March and took on an advisory position.

The sale, which involves only a portion of his ownership stake, could provide a rare glimpse into Tether's private ownership structure. As one of the crypto industry's most profitable companies, Tether remains privately held despite its significant market presence.

Tether issues USDt (USDT), the world's largest stablecoin by market capitalization, with a circulating supply of roughly $184 billion. This accounts for approximately 59% of the stablecoin market, according to DefiLlama data.