Nathan Allman, founder and CEO of Ondo Finance, has passed away unexpectedly, the company announced on Monday.
"It is with profound sadness that we announce the unexpected passing of Nathan Allman, Ondo's founder," Ondo wrote on social media platform X. "Nate’s brilliance, humility, and drive shaped every part of what Ondo is today."
Allman, a Brown University graduate, founded Ondo in 2021 after his stint at Goldman Sachs' digital assets team. 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.
Ondo wrote in the statement 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.
"The mission of Ondo, Nate's mission, has not changed," De Bode wrote on X. "If Nate were here, he would want to continue executing with excellence. We will make him proud."
The company has not disclosed further details regarding the cause of death. Ondo said it remains fully committed to building Allman's vision — a more open, accessible financial system.
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