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Nathan Allman’s sudden death leaves Ondo Finance at a turning point

Ondo Finance announced the unexpected passing of its founder, Nathan Allman, which has resulted in a change in leadership for the prominent company specializing in tokenized real-world assets.

Summary

  • Ondo Finance confirmed Nathan Allman’s death and named longtime President Ian De Bode as new CEO.
  • The company said De Bode has led strategy, product, and daily operations for two years.
  • Related reports show Ondo expanded across tokenized stocks, ETFs, Treasuries, and major crypto wallet integrations.

The company shared the news on May 25th and expressed its sympathy to Allman’s family and friends.

I was saddened to learn of the passing of Nate Allman, Ondo’s founder. The company shared a statement highlighting his brilliance, humility, and the significant impact he had on building Ondo into what it is today. While they haven’t released details about his death, I understand he established Ondo in 2021, drawing on his experience with digital assets at Goldman Sachs.

We are deeply saddened to announce the sudden passing of Nathan Allman, the founder of Ondo. Our thoughts are with his family and friends during this difficult time.

Nate’s intelligence, kindness, and determination were instrumental in building Ondo into what it is today. He strongly believed in using technology to…

— Ondo Finance (@OndoFinance) May 25, 2026

Ian De Bode takes over as Ondo CEO

Ondo Finance has appointed Ian De Bode as its new CEO. He previously served as President and has been in charge of the company’s strategy, product development, and day-to-day operations for over two years, earning the full support of the leadership team.

De Bode confirmed the company will continue on its existing path. He stated that Ondo’s core goals, originally set by Nate, remain the same. He believes Allman would have encouraged the team to continue working diligently and with focus.

Today is a deeply sad day for everyone at Ondo Finance. We’ve lost Nate, a brilliant founder, a true visionary, and a cherished friend. We will miss him greatly.

Despite this loss, Ondo’s goals – Nate’s goals – remain the same. We know he would want us to carry on.

— Ian De Bode (@iandebode) May 25, 2026

This appointment ensures a smooth transition within Ondo, providing stability and clear leadership for users, partners, and investors. De Bode was already deeply involved in planning Ondo’s future products and growth, making him well-prepared for this role.

Ondo’s RWA business remains in focus

Ondo is a significant company in the growing market for digital versions of real-world assets. They offer products like OUSG and USDY, and their Ondo Global Markets platform connects cryptocurrency wallets and applications to tokenized versions of U.S. stocks, bonds, and exchange-traded funds. This leadership change happens as Ondo continues to be a key player in this space.

Recent reports indicate that Ondo has been growing rapidly. As of May 19th, the total value of assets managed by Ondo Finance exceeded $4 billion, more than double the approximately $1.95 billion at the beginning of the year. Ondo Global Markets also reached a significant milestone, surpassing $1 billion in total value locked.

Ondo broadened how people can access its services by connecting with various digital wallets and cryptocurrency exchanges. Recent news indicated that MetaMask users can now trade over 200 U.S. stocks and ETFs in a tokenized format through Ondo, making these investments available to eligible users in certain areas.

Wider tokenization growth

Recent reports highlight Ondo’s importance to the growing market for real-world assets (RWAs). According to crypto.news, the value of tokenized RWAs – particularly U.S. Treasuries and products built on Ethereum – reached between $31 and $34 billion by May 2026.

Ondo has broadened its offerings to include tokenized stocks and ETFs by collaborating with various partners. Recently, it launched 35 tokenized assets on Hyperliquid’s HyperEVM. Previously, Ondo partnered with Franklin Templeton to offer a tokenized ETF.

Ondo plans to build on the foundation laid by Allman. Moving forward, the company will prioritize stable leadership, successful product development, and maintaining the confidence of its partners in the real-world asset space.

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2026-05-26 07:26