Tether Investments Chief to Step Down After Leading Deals Spree

Tether Holdings SA Chief Investment Officer Richard Heathcote, who oversaw the vast reserves backing its main stablecoin and a deals spree involving everything from soccer clubs to humanoid robots, is stepping down from his position.

Heathcote is moving into a non-executive advisory role and giving up day-to-day responsibilities, the company said in a statement in response to questions from Bloomberg News. His deputy, Zachary Lyons, will replace Heathcote.