Bloomberg: Tether's former CIO seeks to sell part of his 1.26% stake

Richard Heathcote, the former chief investment officer (CIO) of Tether (USDT), is seeking to sell a portion of his 1.26% stake in the company, Bloomberg reported, citing sources. Heathcote stepped down from his role as CIO, where he oversaw Tether's investment portfolio, in March and now serves as an advisor. The sale reportedly involves only a part of his 1.26% stake, not the entire holding. Meanwhile, Tether is facing regulatory challenges in Europe. Following the company's decision not to comply with the European Union's Markets in Crypto-Assets (MiCA) regulation, several MiCA-licensed trading platforms have begun delisting USDT. Crypto neobank Revolut also announced plans to terminate support for USDT on its platform this month.