Richard Heathcote is reportedly working with PJT Partners to find a buyer for a small part of his 1.26% holding in the issuer of USDT following his transition to an advisory role.

Richard Heathcote, who until March was Tether’s chief investment officer, is planning to sell part of his 1.26% stake in the stablecoin giant, according to a Bloomberg report .

Heathcote is working with PJT Partners to sell his holding in the San Salvador, El Salvador-based company, Bloomberg said, citing sources close to the matter. The sources said discussions with potential buyers were ongoing. They declined to comment on the company’s potential valuation.

Heathcote took on a non-executive advisory role at the issuer of USDT, the largest stablecoin by market capitalization, in March, and was replaced by his deputy Zachary Lyons.

In February, Tether scaled back from plans to raise as much as $20 billion after facing investor resistance to a proposed $500 billion valuation that would rank the stablecoin issuer among the world’s most valuable private companies. Tether advisers then followed up with plans to raise $5 billion. Tether reported a full-year profit of more than $10 billion for 2025.

Tether did not respond to a CoinDesk request for comment. PJT Partners declined to comment. Heathcote could not be reached.

• 2 Vanguard opens search for digital assets leader in sign of evolving crypto strategy 1 hour ago

• 3 AI trade loses steam as infrastructure boom faces reality check 1 hour ago

• 4 EDX Markets raises $76 million in funding round led by SBI Holdings 1 hour ago

• 5 Bitcoin, XRP draw Japanese firms as weak yen drives treasury diversification 2 hours ago

• 7 Bitcoin's July gains may be fleeting as U.S. demand stays weak 4 hours ago

• 8 Bitcoin stalls as open interest decline raises questions about rally's staying power 5 hours ago

• 9 Binance taps into Bitcoin holders’ hunger for yield with new covered call yield play 7 hours ago

• 10 Bitcoin's recent macro relief faces a challenge from Japanese interest rates 7 hours ago

SpaceX IPO Drives Tokenized Equity Volumes to Record as Stablecoin Market Cap Falls

SpaceX IPO Drives Tokenized Equity Volumes to Record as Stablecoin Market Cap Falls

Stablecoin market cap fell to $312B in June, its largest monthly drop since TerraUSD, while tokenized equity volumes surged 145% to a record $3.86B.

Stablecoin market cap fell to $312B in June, its largest monthly drop since TerraUSD, while tokenized equity volumes surged 145% to a record $3.86B.

Why it matters :

Stablecoin market cap fell to $312B in June, its largest monthly drop since TerraUSD, while tokenized equity volumes surged 145% to a record $3.86B.