On the morning of May 26th, the Ondo Finance project team officially confirmed that founder and CEO Nathan Allman had passed away unexpectedly. The announcement did not mention the specific cause of death. This is a great loss not only for Ondo Finance but also for the entire real asset Tokenize (RWA) sector – a product branch in which Allman was one of the earliest pioneers and had the most profound influence.
A graduate of Brown University and former employee of Goldman Sachs' digital asset division, Nathan Allman founded Ondo Finance in 2021 with the vision of bringing traditional financial assets onto the blockchain. Under his leadership, Ondo quickly became one of the market's leading RWA projects, with a range of widely recognized products: USDY – a yield-backed stablecoin backed by US financial assets; OUSG – a Tokenize product of US government bonds; and Ondo Global Markets – a blockchain-based Tokenize stock trading platform.
The Ondo team describes Allman as someone who shaped almost the entire vision, culture, and direction of the company from its early days, a leader with both a grand strategic vision and a reputation for humility and determination.
Ian De Bode takes over as CEO.
Ondo Finance has confirmed that Ian De Bode, the company's longtime chairman, will take over as CEO. De Bode has been directly responsible for Ondo's strategy, product, and day-to-day operations for over two years and enjoys the full support of the current leadership team.
In his first statement as CEO, De Bode wrote: “This is a deeply saddening day. Nate was not only a brilliant founder but also a dear friend. Ondo’s mission was Nate’s mission, and that will not change. If Nate were here, he would have wanted us to continue to the highest standards. We will make him proud.”
News of Allman's passing quickly spread throughout the community. Binance founder Changpeng Zhao (CZ) wrote on X: "My Chia . He was one of the pioneers of the RWA field." Popular crypto KOL Cobie also expressed his sorrow at this sudden loss.
