Ondo Finance founder Nathan Allman has died unexpectedly, the tokenized real-world assets firm announced Tuesday. The company did not disclose the cause.
The firm said in a statement, "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."
Ian De Bode, who has served as president for over two years and led strategy, product, and daily operations, has been appointed CEO. The leadership team expressed full confidence in his ability to lead.
Allman, a Brown University graduate, founded Ondo in 2021 after working on Goldman Sachs' digital assets team. Under his leadership, the company became a pioneer in tokenized real-world assets, growing total value locked to $3.5 billion. Key products launched include USDY, a yield-bearing stablecoin; OUSG, a tokenized U.S. Treasury fund; and tokenized equities through Ondo Global Markets.
The company said it will continue building on Allman's vision as the most meaningful way to honor him.