Heathcote Seeks to Sell Part of His Tether Stake Amid Ongoing Regulatory Pressure

Former Tether chief investment officer Richard Heathcote is seeking to sell part of his 1.26% stake in Tether, offering investors a rare glimpse into the privately held stablecoin issuer's ownership.

The proposed sale comes as Tether maintains it does not plan to pursue an initial public offering (IPO), despite growing IPO activity across the crypto sector.

Tether has approximately $184 billion of USDT in circulation, accounting for roughly 59% of the stablecoin market. Heathcote stepped down as chief investment officer in March and is now serving as an adviser to the company.