Raphael Zagury, Tether’s former chief investment officer, is looking to sell his stake in the company behind the world’s largest stablecoin. The move would mark a rare liquidity event for an insider at one of crypto’s most profitable and opaque enterprises.
The planned sale arrives at an interesting moment. Tether has reportedly been exploring capital raises in the range of $15 billion to $20 billion, with potential valuations stretching as high as $500 billion.
A quiet exit from a loud company
Zagury’s departure from Tether’s C-suite preceded this planned stake sale. After serving as CIO, he pivoted to leading Bitcoin mining initiatives through Elektron Energy, a venture that aligns with Tether’s own expanding footprint in mining operations.
The specifics of the sale, including the size of the stake, potential buyers, and timeline, remain unclear.
