Ondo Finance founder Nathan Allman has died, the company said in a post on X on Tuesday, without disclosing the cause.
“It is with deep sadness that we announce the unexpected passing of Nathan Allman, Ondo’s founder. Our hearts go out to 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.”
Ian De Bode, Ondo’s longtime president who has led strategy, product and day-to-day operations for over two years, will serve as CEO. De Bode has the full confidence of the management team, the company said.
Allman, a graduate of Brown University, founded Ondo in 2021 after working on Goldman Sachs’ digital assets team. Under his leadership, Ondo became a pioneer in real-world tokenized assets and grew the total value locked to $3.5 billion.
Notable products launched during his tenure include USDY, a yield-bearing stablecoin, OUSG, a tokenized US treasury fund, and tokenized stocks through Ondo Global Markets.
The company said it would continue to build what Allman started as the most meaningful way to honor him.
UPDATE (May 26, 7:17 UTC): Changes the wording of the heading.
