According to Bloomberg, Tether's former chief investment officer, Richard Heathcotte, is seeking to sell part of the company's shares. According to the source, he was working with the consulting agency PJT Partners to reach out to potential buyers and the negotiations were ongoing.
Shareholding ratio 1.26%
Heathcote holds Tether approximately 1.26% shares. The report did not disclose the extent of the sale of that share and did not give a corresponding valuation.
Heathcote previously served as Tether's Chief Investment Officer until March this year, when he was transferred to a non-executive advisory position. He was replaced by his former deputy, Zachary Lyons.
Tether's downgraded financing targets during the year
In February this year, Tether reduced the original financing plan. The company had previously considered raising up to $20 billion, but the market had responded with caution to its $500 billion valuation.
Based on this valuation, Tether will be among the top non-listed companies in the global valuation. Subsequently, the consultancy team adjusted the funding target to $5 billion.
Over $10 billion in 2025.
The company disclosed that Tether earned more than $10 billion for the year 2025. At the time of the release of the report, Tether had not responded to CoinDesk ' s request for comment, and PJT Partners refused to comment.
Heathcote was not interviewed either. This potential equity transaction shows that discussion of equity flows and valuations around Tether continues.