Woofun AI reports that former Tether Chief Investment Officer Richard Heathcote is collaborating with PJT Partners to divest a fraction of his equity holdings in the stablecoin issuer. Heathcote transitioned from his executive role to a consulting capacity in March this year.

Insiders indicate the transaction will encompass only a segment of his 1.26% ownership stake. Discussions with prospective purchasers are currently active, although specific valuation figures remain undisclosed.