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, the founder of Ondo. Our hearts go out to his family and loved ones,” the company said. “Nate’s brilliance, humility and drive shaped every part of who Ondo is today. His belief in the power of technology to create a more open and accessible financial system lives on in everything we build.”
Ian De Bode, Ondo’s long-time president who has led strategy, products and daily operations for more than 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 the digital assets team at Goldman Sachs. Under his leadership, Ondo became a pioneer in real-world tokenized assets, increasing the total value set to $3.5 billion.
Major products launched during his tenure include USDY, a yield stablecoin, OUSG, a tokenized US Treasury fund, and tokenized stocks through Ondo Global Markets.
The company said it would continue to build on what Allman started as the most meaningful way to honor him.
UPDATE (May 26, 7:17 UTC): Change the wording of the title.
