Ondo Finance, a prominent decentralized finance platform specializing in tokenized real-world assets, announced the unexpected passing of its founder and CEO, Nathan Allman, on Monday, May 25, 2026.
"It is with profound sadness that we announce the unexpected passing of Nathan Allman, Ondo’s founder," the company stated on X. "Nate’s brilliance, humility, and drive shaped every part of what Ondo is today."
Allman, a Brown University graduate who previously worked on Goldman Sachs' digital assets team, founded Ondo in 2021. Under his leadership, the firm became a key player in bringing traditional assets onto the blockchain, launching products like the yield-bearing stablecoin USDY, tokenized U.S. Treasuries (OUSG), and tokenized equities via Ondo Global Markets.
In the wake of the tragedy, Ondo confirmed that Ian De Bode, its president, would assume the CEO role. De Bode has been overseeing strategy, product, and daily operations for more than two years. "The mission of Ondo, Nate's mission, has not changed," De Bode wrote. "If Nate were here, he would want to continue executing with excellence. We will make him proud."
The news reverberated through the crypto community. Bitget CEO Gracy Chen noted the long-standing collaboration since 2023, highlighting the exchange’s listing of Ondo’s native token, ONDO, and support for its real-world asset strategy. No further details on the cause of death were disclosed.
Market reaction was immediate: the price of ONDO dropped 6.5% to $0.41, though the token remains up 59% over the past 30 days.
