Tether insider seeks sale of 1.26% stake
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- Former Tether chief investment officer Richard Heathcote is seeking to sell part of his 1.26% ownership stake in Tether.
- The proposed sale could provide investors with a rare view into ownership of the privately held stablecoin issuer.
- The report comes as Tether maintains it does not plan to pursue an initial public offering despite growing IPO activity across the crypto sector.
Former Tether executive Richard Heathcote is reportedly seeking to sell part of his 1.26% stake in Tether (CRYPTO:USDT), offering a rare glimpse into ownership of the privately held stablecoin issuer.
Heathcote stepped down as Tether's chief investment officer in March to become an adviser, while the company now has about US$184 billion of USDT in circulation, equal to roughly 59% of the stablecoin market.
The reported sale involves only part of Heathcote's holding, while Tether continues to face regulatory pressure after several MiCA-authorised European platforms removed USDT because the company chose not to comply with the European Union's crypto rules.
Tether has continued to state that it does not plan to pursue an IPO even as other crypto companies explore public listings, and as the company is privately held there is no share price available.
Kraken reportedly raised US$500 million at a US$15 billion valuation in 2025 and confidentially filed IPO paperwork before Bloomberg reported its listing could be delayed until 2027.
Bithumb announced in April that it had postponed its planned IPO until after 2028 while strengthening its accounting policies and internal controls following earlier regulatory challenges.
