According to Bloomberg, sources familiar with the matter said that former Tether Chief Investment Officer Richard Heathcote is planning to sell some of the Tether shares he holds and has commissioned PJT Partners to sell part of the shares from his 1.26% equity stake. The relevant transaction is still being negotiated with potential buyers, and the valuation has not been disclosed. Richard Heathcote stepped down as Tether’s Chief Investment Officer in March this year and transitioned to an adviser role, and the share sale has been approved by Tether. This year, Tether previously paused a financing plan with a maximum valuation of $500 billion while waiting for the results of its first full financial audit.