Former Tether Chief Investment Officer Richard Heathcote Approved to Sell Small Stake

CoinFeed July 7 news, according to Bloomberg citing informed sources, former Tether Chief Investment Officer Richard Heathcote is working with PJT Partners to sell a small portion of his Tether shares. Heathcote stepped down as Tether Chief Investment Officer in March this year and transitioned to an advisory role. Informed sources said the sale involves only a part of his 1.26% stake. Currently, negotiations are underway with potential buyers, but the possible valuation was not disclosed. Previously reported in March, Tether earlier this year suspended plans to raise funds at a valuation of up to $500 billion because the company is awaiting the results of its first full financial audit. Tether also hired one of the Big Four accounting firms to conduct the audit.