Ondo Finance founder Nathan Allman has died, the company announced in an article on X on Tuesday, without revealing the cause.
“It is with deep sadness that we announce the unexpected passing of Nathan Allman, the founder of Ondo. Our thoughts are with his family and loved ones,” the company said. “Nate’s genius, humility and drive have shaped every aspect of what 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 longtime president who led strategy, product and day-to-day 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 Brown University graduate, 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 locked to $3.5 billion.
Key products launched during his tenure include USDY, a yield-bearing stablecoin, OUSG, a tokenized US Treasury fund, and stocks tokenized through Ondo Global Markets.
The company said it will continue to build what Allman started as the most meaningful way to honor him.
UPDATE (May 26, 7:17 a.m. UTC): Changes the title wording.
