The sudden death of Nathan Allman leaves Ondo Finance in a state of transition
Ondo Finance has said its founder, Nathan Allman, has died suddenly, prompting a sudden change in leadership at one of the world’s best-known names in real estate.
Summary
- Ondo Finance has confirmed the death of Nathan Allman and appointed long-time President Ian De Bode as the new CEO.
- The company said De Bode has led strategy, product, and day-to-day operations for two years.
- Related reports show that Ondo has expanded to all stocks with tokens, ETFs, Funds, and a large crypto wallet integration.
The company announced the news on May 25 and said its thoughts are with Allman’s family and loved ones.
In his public statement, Ondo said “Nate’s intelligence, humility, and drive made up every part of who Ondo is today.” The company did not disclose any further details about the cause of his death. Allman founded Ondo in 2021 after working in Goldman Sachs’ digital assets group.
Ian De Bode takes over as CEO of Ondo
Ondo Finance has appointed long-time President Ian De Bode as CEO. The company said De Bode had been leading strategy, product, and day-to-day operations for more than two years and trusted the leadership team.
De Bode also said that the direction of the company will not change. In a statement, he said “Ondo’s mission, Nate’s campaign, has not changed.” He also added that Allman would have liked the team to continue to do well and morally.
The appointment gives Ondo an internal successor at a time when users, partners, and investors may be looking for clearer communication. De Bode was already involved in the work that created Ondo’s product roadmap and market expansion.
Ondo’s RWA business remains entrenched
The change in leadership comes as Ondo remains a major player in the real-world tokenized asset market. Its products include OUSG, USDY, and Ondo Global Markets, which link crypto wallets and applications to US token stocks, bonds, and ETFs.
The inclusion of related markets shows that Ondo was growing rapidly. A May 19 report said Ondo Finance’s net worth has increased to more than $4 billion, from about $1.95 billion at the beginning of the year, while Ondo Global Markets has surpassed $1 billion in TVL.
Ondo has also built a broad distribution base through wallet and exchange integration. Previous reports stated that MetaMask has added access to more than 200 US token stocks and ETFs through Ondo, expanding access to eligible users in supported areas.
Broad token growth
The various reports also show why Ondo’s next steps remain important for the RWA market. crypto.news recently reported that real world assets made of tokens will reach approximately $31 billion to $34 billion by May 2026, with US Treasuries and Ethereum-based products leading the field.
Ondo has also expanded into tokenized stocks and ETFs through several partnerships and mergers. The latest coverage said the platform has brought 35 token assets to Hyperliquid’s HyperEVM, while previous reports noted an ETF partnership for Franklin Templeton and Ondo’s tokens.
Ondo said he will continue to build on what Allman started. For the company, the short-term focus is now shifting to leadership continuity, product innovation, and maintaining trust throughout its RWA program.
