Key Takeaways:
Nathan Allman, the founder of tokenized asset platform Ondo Finance, has died, the company announced on May 25. The firm’s ONDO token dropped 7.41% following the news, a sign of market unease following the unexpected death of a key figure in the real-world asset (RWA) sector.
“Ondo Finance confirmed founder, Nathan Allman, unexpectedly passed away,” according to a May 26 market report. Company president Ian De Bode will become CEO, with the firm emphasizing the transition reflects deliberate planning. De Bode’s elevation is designed to continue Ondo’s vision for an open financial system without interruption.
The ONDO token fell to $0.412 with a trading volume of $238.83 million in the hours following the announcement, according to CoinGecko data. The leadership transition was immediate, with De Bode—who joined in late 2023 and was promoted to President in November 2025—taking the helm. His background includes leading digital assets efforts at consulting firm McKinsey.
The key challenge for the new CEO will be maintaining institutional relationships and product momentum for Ondo's tokenized U.S. Treasury products, OUSG and USDY, which operate on the Ethereum blockchain. The market will be watching for any strategic shifts from the new leadership as it navigates the loss of its founder.
Allman, a former member of Goldman Sachs’ digital assets team, built Ondo Finance into a prominent name in the tokenization of real-world assets. The firm’s core business involves making traditional financial instruments like U.S. government bonds accessible on-chain, a fast-growing segment of the DeFi ecosystem.
Despite the sudden nature of the event, the company has stressed the strength of its existing leadership bench. In a public statement, Ondo Finance expressed confidence in De Bode’s ability to carry forward Allman’s vision, framing the succession as a reflection of organizational continuity rather than a crisis response.
This article is for informational purposes only and does not constitute investment advice.
