Richard Heathcote will step down as chief investment officer of Tether, and will be succeeded by his deputy, Zachary Lyons.

CoinFeed reported on March 13th, citing Bloomberg, that Richard Heathcote, Chief Investment Officer of stablecoin giant Tether Holdings SA, will step down to a non-executive advisor role, and his deputy, Zachary Lyons, will succeed him. Heathcote spearheaded Tether's investment strategy during its "defining period," including managing the massive reserves backing its core stablecoin USDT and driving a series of deals involving areas such as football clubs and humanoid robots. Heathcote previously worked at Cantor Fitzgerald's BGC Group, playing a key role in establishing Tether's relationship with the investment bank. Cantor is an investor in Tether and manages its U.S. Treasury portfolio.