TL;DR:
- Nathan Allman, founder of Ondo Finance, died unexpectedly; the company did not disclose the cause of death.
- Ian De Bode, president of the firm for over two years, will assume the role of CEO with the backing of the leadership team.
- David Schwartz, Ripple’s CTO Emeritus, and Changpeng Zhao, co-founder of Binance, publicly expressed their condolences.
The real-world tokenized assets industry lost one of its most influential figures. Nathan Allman, founder of Ondo Finance, died unexpectedly, as confirmed by the company itself through its X account. The firm did not disclose the cause of death.
“It is with profound sadness that we announce the unexpected passing of Nathan Allman, founder of Ondo. Our hearts are with his family and loved ones,” the company wrote in its official statement. “His brilliance, humility, and determination shaped every part of what Ondo is today.”
It is with profound sadness that we announce the unexpected passing of Nathan Allman, Ondo's founder. Our hearts are with his family and loved ones.
Nate’s brilliance, humility, and drive shaped every part of what Ondo is today. His belief in the power of technology to create a…
— Ondo Finance (@OndoFinance) May 25, 2026
Allman was a graduate of Brown University and had been part of the digital assets team at Goldman Sachs before founding Ondo in 2021. Under his leadership, the company established itself as a pioneer in real-world asset tokenization, reaching a total value locked of $3.5 billion. Among the products launched during his tenure are USDY, a yield-bearing stablecoin, OUSG, a tokenized U.S. Treasury fund, and Ondo Global Markets, a platform focused on equity tokenization.
Leadership Transition at Ondo Finance Following Allman’s Passing
The company immediately announced a succession plan. Ian De Bode, president of Ondo for over two years and responsible for strategy, product development, and daily operations, will assume the role of CEO with the backing of the leadership team. The firm underscored that its founding objectives remain intact and that it will continue building what Allman started as the best way to honor his memory.
Schwartz and Zhao Pay Tribute
Reactions from the crypto industry were swift. David Schwartz, CTO Emeritus of Ripple, spoke up to highlight Allman’s qualities as a thoughtful builder and exceptional business leader.
I’ve had the pleasure of meeting Nathan, and he was truly a thoughtful builder and leader in this industry. We were grateful for the opportunity to work with him and for his partnership. Our thoughts are with his family and the entire Ondo team. https://t.co/WagXaBRRe5
— David 'JoelKatz' Schwartz (@JoelKatz) May 26, 2026
For his part, Changpeng Zhao, co-founder of Binance, extended his condolences to the founder’s family and the Ondo team. Numerous partners also shared testimonials about his integrity and commitment, describing the founder as a one-of-a-kind entrepreneur within the crypto industry.
