Ondo Finance Founder Nathan Allman Passes Away

• After working on the digital assets team at Goldman Sachs, Allman—a 2021 Brown University alum—founded Ondo.
• The most meaningful way for the organization to memorialize Allman was to continue expanding on what he began.

The founder of Ondo Finance, Nathan Allman, passed away, the firm said in a post on X on Tuesday, without saying why.  The new chief executive officer is Ian De Bode, a longstanding president of Ondo who has been in charge of strategy, products, and daily operations for more than two years. The corporation said that De Bode had the complete support of the executive team.

The company stated:

After working on the digital assets team at Goldman Sachs, Allman—a 2021 Brown University alum—founded Ondo. As a pioneer in tokenizing real-world assets, he increased Ondo’s total locked value to $3.5 billion. A yield-bearing stablecoin called USDY, a tokenized U.S. Treasury fund called OUSG, and tokenized stocks via Ondo Global Markets were among the major products introduced during his tenure.

Pivotal Period for the Booming RWA Sector

The most meaningful way for the organization to memorialize Allman was to continue expanding on what he began. The native token of Ondo Finance, ONDO, fell in value due to the news. It is now trading at about $0.42, down 4.47% in the last 24 hours. Binance co-founder Changpeng Zhao (CZ) was one of many prominent personalities to swiftly express their sympathies to the Allman family and the rest of the Ondo team.

This leadership change comes at a critical juncture for the RWA industry, which has attracted a lot of institutional interest since the beginning of 2026. This is mainly due to the increasing demand for tokenized treasury products, private credit instruments, and yield-bearing stablecoins as conventional fixed-income products lose their appeal to traditional financial institutions.

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