Ondo Finance CEO Nathan Allman Dies Unexpectedly

Nathan Allman, the founder and chief executive of Ondo Finance, has died unexpectedly, the company announced on May 26. No cause of death was disclosed. Ian De Bode, who had served as the company's president since November 2025, has been appointed chief executive immediately.

"It is with profound sadness that we announce the unexpected passing of Nathan Allman, Ondo's founder," the company wrote. "Nate's brilliance, humility, and drive shaped every part of what Ondo is today. His belief in the power of technology to create a more open and accessible financial system will continue to guide everything we build in the future." Ondo said De Bode has led the company's strategy, products and day-to-day operations for over two years and has the full support of the management team.

Allman founded Ondo in 2021 after working on Goldman Sachs' digital assets desk. He studied at Brown University and Stanford. Under his leadership, Ondo developed a tokenised Treasury fund and a yield-bearing stablecoin that passes Treasury returns directly to holders, and had recently launched a platform for tokenised equities. Institutional demand for on-chain Treasuries grew substantially through 2024 and 2025, with Ondo among the platforms that benefited most.

De Bode joined Ondo as chief strategy officer in late 2023, having previously led digital assets work at McKinsey. His promotion to president in November 2025, followed now by the CEO appointment, reflects the organisational groundwork Allman had put in place.

ONDO, the company's governance token, was trading at $0.43 and down around 3% over the 24 hours following the announcement, according to CoinGecko.

Ondo said it would share further details as they become available.