Nathan Allman, the founder of Ondo Finance, has died unexpectedly at the age of 32. The company did not disclose the cause of death.
Ondo Finance announced the news in a post on X, saying, “It is with deep sadness that we announce the unexpected passing of Ondo’s founder, Nathan Allman. Our hearts are with his family and loved ones.” The company said Allman’s intelligence, humility and determination shaped Ondo into what it is today. “His belief that technology could create a more open and accessible financial system will live on in everything we build,” it added.
Who was Allman?
After graduating from Brown University, Allman worked on Goldman Sachs’ digital assets team. In 2021, he founded Ondo Finance and became one of the leading names in the tokenization of real-world assets, or RWA. Under his leadership over the past four years, Ondo accumulated around $3.86 billion in tokenized assets on-chain. Its portfolio includes Treasury securities, equities and commodities, with more than 111,000 asset holders.
Products launched during this period include USDY, a yield-bearing stablecoin; OUSG, a tokenized U.S. Treasury fund; and tokenized equities offered through Ondo Global Markets.
Leadership change
Following Allman’s death, Ian De Bode became the company’s new CEO. De Bode joined Ondo as Chief Strategy Officer in March 2024 after leading McKinsey’s digital assets unit, and was promoted to President in November 2025. The company confirmed that De Bode, who had effectively led strategy, product and day-to-day operations for more than two years, has the full confidence of the leadership team.
Ondo closed its announcement with the words: “We will continue building the work Nate started. We believe that is the most meaningful way to honor him.”
The industry loses a major figure
Allman was one of the few early believers who focused on RWA tokenization when the field was still considered niche, helping bring it closer to the mainstream. His death at the age of 32 is a significant loss not only for Ondo, but also for the broader tokenized finance ecosystem that has gained momentum in recent years.
Ondo Finance stakeholders and industry figures shared condolence messages on social media, while the market is now watching how the team under De Bode’s leadership will shape the company’s roadmap in the coming period.
Impact on ONDO price
Following the news, ONDO fell 4.54% in 24 hours to $0.4205. The token traded between $0.4095 and $0.4440 during the day. With a market capitalization of $2.04 billion, ONDO had gained 59.85% over the past 30 days, showing strong performance. However, the uncertainty created by the loss of its founder brought short-term selling pressure.
