Ex-Tether CIO Looks to Cash Out His Stake in Stablecoin Giant
Tether's former chief investment officer is reportedly seeking a buyer for his ownership stake, even as the company says it has no IPO plans.
If you've been following the stablecoin world, here's a headline worth pausing on: the former Chief Investment Officer of Tether — the company behind the world's largest stablecoin, USDT — is reportedly looking to sell his personal stake in the firm, according to a Bloomberg report covered by Cointelegraph.
This kind of secondary-market sale is basically when an insider sells their ownership share directly to another private buyer, rather than through a stock exchange. It's a way to unlock value without the company itself going public — think of it like selling your slice of the pie to someone else at the table, instead of taking the whole restaurant to a stock market listing.
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What makes this particularly interesting is the timing. A wave of crypto companies have been eyeing or actually pursuing initial public offerings lately, riding renewed enthusiasm in digital assets. Others have pumped the brakes and delayed their IPO plans. Tether, for its part, is firmly in the "not our thing" camp — the company says it has no intentions of going public anytime soon.
Tether is no small player here. As the issuer of USDT, it sits at the center of a massive chunk of global crypto trading volume. The company has historically been pretty tight-lipped about its ownership structure and internal finances, so even a rumored stake sale draws outsized attention from industry watchers trying to get a clearer read on who owns what.
Whether a deal actually closes — and at what valuation — remains to be seen. But the reported move signals that at least one former insider sees a strong market for Tether equity, even without a public listing on the horizon. Continue reading at Cointelegraph.
