Ondo Finance announced on X Tuesday the unexpected death of its founder Nathan Allman. The cause was not disclosed.
Founder's Passing, New CEO Named
"It is with profound sadness that we announce the unexpected passing of Nathan Allman, Ondo's founder," the company said. "Nate's brilliance, humility, and drive shaped every part of what Ondo is today." Ian De Bode, who had served as president overseeing strategy, product, and day-to-day operations for over two years, will step in as CEO. The leadership team has full confidence in him, according to the statement.
From Goldman Sachs to RWA Pioneer
A Brown University graduate, Allman worked on Goldman Sachs' digital assets team before founding Ondo in 2021. Under his leadership, Ondo became a trailblazer in tokenized real-world assets (RWA), growing its total value locked to $3.5 billion.
Key Products and Legacy
Major products launched during Allman's tenure include USDY (a yield-bearing stablecoin), OUSG (a tokenized U.S. Treasury fund), and tokenized equities via Ondo Global Markets. The company said continuing what Allman started is the most meaningful way to honor him.