Ondo Finance, a tokenized real-world assets firm, announced the unexpected death of founder Nathan Allman on Tuesday. The company expressed profound sadness in a post on X, noting Allman's brilliance, humility, and drive that shaped the company. Ian De Bode, longtime president who has led strategy, product, and daily operations for over two years, will serve as CEO. Allman, a Brown University graduate, founded Ondo in 2021 after working on Goldman Sachs' digital assets team. Under his leadership, Ondo grew total value locked to $3.5 billion, launching products like USDY (yield-bearing stablecoin), OUSG (tokenized U.S. Treasury fund), and tokenized equities through Ondo Global Markets. The company stated it will continue building his legacy as the most meaningful way to honor him.

Key facts

• Ondo Finance founder Nathan Allman died unexpectedly on Tuesday.
• Ian De Bode, longtime president, succeeds Allman as CEO.
• Allman founded Ondo in 2021 after working at Goldman Sachs.
• Under Allman, Ondo's TVL reached $3.5 billion with key products like USDY and OUSG.
• The company will continue building to honor Allman's legacy.