Former Tether CIO Seeking Buyers for Partial Stake

The former chief investment officer of Tether is privately seeking buyers for a portion of his stake in the company, according to a report. The sale process is being handled through private channels; the size of the stake, asking price and potential buyers were not disclosed.

The report described the process as confidential and away from public markets. It did not specify timing for any completed transaction and did not clarify whether transfers would occur immediately or in stages.

The individual was not identified by name in the report. The report also did not name intermediaries or say whether Tether’s board or current management have approved the sale. There was no information on how proceeds would be used.

Tether Ltd. issues USDT, a dollar-pegged stablecoin that is among the largest by market capitalization and widely used in cryptocurrency trading and payments. The company and some executives have faced regulatory scrutiny in recent years, but the report did not link the prospective stake sale to any regulatory or legal action.

The report included no direct statements from Tether representatives or the former CIO. It said interested buyers are being sought privately rather than through a public offering or an exchange listing.

Ownership stakes in private blockchain-related firms commonly change hands through negotiated deals with institutional investors, family offices or private equity, but the report did not specify which class of buyer is being targeted in this case.