Ondo Finance CEO Nathan Allman Dies Unexpectedly as Ian De Bode Takes Charge; Company Plans to Continue Tokenized Real-World Asset Growth Strategy
On May 26, Ondo Finance’s founder and CEO, Nathan Allman, unexpectedly passed away, the company said in a post on X. The company did not disclose the cause of death.
After serving on Goldman Sachs’ digital assets desk, Allman started Ondo Finance in 2021. He is a graduate of Brown University; he also attended Stanford University and then proceeded to build Ondo as one of the top platforms in the tokenized real-world asset (RWA) space.
“It is with profound sadness that we announce the unexpected passing of Nathan Allman, Ondo’s founder. Our hearts are with his family and loved ones,” the company said. “Nate’s brilliance, humility, and drive shaped every part of what Ondo is today. His belief in the power of technology to create a more open, accessible financial system lives on in everything we build.”
Ondo’s Growth Under Nathan Allman
Ondo Finance has emerged as a leading player in the RWA tokenization space under Allman. The company developed products with the intent to bring traditional financial assets, especially US Treasuries and yield-bearing assets, on-chain.
Ondo’s key products include USDY, a stablecoin that pays its holders interest on the Treasury, and OUSG, a tokenized US Treasury fund. The company also extended its offering to tokenized equities with Ondo Global Markets.
According to Ondo, the total value locked (TVL) rose to approximately $3.5 billion, which reflects rising institutional and investor demand for tokenized real-world assets.
Ian De Bode Takes Over as CEO
Ian De Bode, who had served as Ondo’s president since November 2025, has been appointed the CEO. De Bode’s digital assets expertise was gained after he served as chief strategy officer at McKinsey, before which he led the digital assets practice at the management consultancy firm.
De Bode has been in charge of strategy, product development and day-to-day operations for over two years now, said Ondo. He has the full confidence and support of the leadership team, the company added.
Continuity in Ondo’s direction of the business is indicated by his appointment, particularly when the firm’s focus remains on tokenized Treasuries, stablecoin products, and tokenized equities.
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ONDO Token Reacts After Announcement
After the announcement, ONDO’s governance token was trading around $0.43, with around a 3% decline in the last 24 hours as per CoinMarketCap.
The company said it would continue building on Allman’s work, which is the best way to honour his legacy. Ondo’s plan will likely continue to be centered on improving the accessibility of traditional financial solutions with the help of blockchain technology and tokenization.
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