Overview
- Bloomberg reported that Richard Heathcote is working with PJT Partners to sell part of his 1.26% stake in Tether and has begun talks with potential buyers, with no public valuation disclosed.
- The planned transaction would cover only a portion of Heathcote’s holding, and a completed deal could give investors one of the few public price references for Tether’s private equity.
- Tether remains privately held and profitable, reporting $1.04 billion in net profit for Q1 2026 and about $8.23 billion in excess reserves, while CEO Paolo Ardoino has said the company does not need to go public.
- European Markets in Crypto‑Assets rules have prompted platforms such as Revolut to remove USDT for some users, a shift that is changing where and how the token is distributed in Europe.
- USDT is the dominant stablecoin with roughly a 59% market share and about $184 billion in circulating supply, and a visible price for Tether shares could affect investor demand, calls for more financial transparency, and private fundraising options.