Ondo Founder Nathan Allman Passes Away

Ondo Finance (@OndoFinance) announced the unexpected passing of its founder and CEO, Nathan Allman, on May 26, 2026. The company has not disclosed further details regarding the cause of death.

A Founder Who Shaped Tokenized Finance

Allman, a Brown University graduate, founded Ondo in 2021 after his stint at Goldman Sachs' digital assets team. His vision was clear: to take traditional, institutional-grade financial products and adapt them for blockchain technology. By 2023, the firm had begun tokenizing US Treasuries, a move that placed it squarely at the center of what has become one of crypto's fastest-growing sectors.

He led Ondo in becoming a major blockchain firm focused on tokenized real-world assets, launching products such as USDY, OUSG, and tokenized equities through Ondo Global Markets. The company has collaborated with JPMorgan, struck an agreement with Broadridge in April 2026, and established a partnership with Franklin Templeton in March 2026.

In its announcement, Ondo paid tribute to Allman's character and impact. The company honored his vision and impact, highlighting that his belief in open financial systems will continue to guide future initiatives.

Ian De Bode Steps Up as CEO

Ondo confirmed that Ian De Bode, its president, will assume the role of CEO. De Bode has been leading its strategy, product, and day-to-day operations for over two years, the firm said. De Bode, who has been associated with Ondo since September 2023 as Chief Strategy Officer, brings a background in institutional and digital assets from McKinsey.

In its public statement, Ondo Finance expressed confidence in De Bode's ability to carry forward Allman's vision while acknowledging the profound loss. The company emphasized the strength of the team Allman had assembled, framing the transition as a reflection of deliberate organizational planning rather than crisis management.

De Bode addressed the firm's direction directly following the announcement. "The mission of Ondo, Nate's mission, has not changed," De Bode wrote. "If Nate were here, he would want to continue executing with excellence. We will make him proud."

Sources:
The Block: Nathan Allman, founder and CEO of Ondo Finance, dies unexpectedly
Crypto Briefing: Ondo Finance founder Nathan Allman passes away, Ian De Bode named CEO