ByCoinGape
Key Highlights
Ondo Finance:- A major and yet tragic update is coming from the RWA world. Ondo Finance founder and CEO Nathan Allman has died unexpectedly at the age of 32. The news was disclosed by the company this morning and has come as a major shock to the crypto particularly RWA industry at a time when tokenisation is rapidly booming. The cause of his death has still not been publicly disclosed by the company.
With over $4–5 billion in value, Ondo itself has been positioning to ride the next wave of tokenised stocks and securities. This month only, the company launched tokenized version of SRTC with 8% yield.
It is with profound sadness that we announce the unexpected passing of Nathan Allman, Ondo's founder. Our hearts are with his family and loved ones.
Nate’s brilliance, humility, and drive shaped every part of what Ondo is today. His belief in the power of technology to create a…
— Ondo Finance (@OndoFinance) May 25, 2026
Nathan founded Ondo Finance in 2021 after leaving Goldman Sachs, where he had worked in the bank’s digital assets and crypto-related division for nearly two years.
Nathan actually co-founded Ondo with Pinku Surana, another former Goldman Sachs employee. He was one of the leaders who laid the foundations of today’s booming trend of bringing finance products onto blockchain rails. He helped build one of crypto’s biggest tokenized Treasury businesses. This is evident from the fact that Ondo currently manages nearly $2.8 billion worth of tokenized Treasury products across USDY and OUSG.
Interestingly, Ondo was initially launched on Ethereum using DeFi protocols like Uniswap and SushiSwap before eventually growing into one of the largest tokenised RWA platforms in crypto.
Ondo also expanded tokenized securities by offering by adding BlackRock’s IBIT & Galaxy Digital among other 60 new tokenized stocks and exchange-traded funds (ETFs).
Several leaders across the crypto industry, including Bitget CEO Gracy Chen, Securitize Founder Carlos Demingos, and company’s own executives posted condolences on Ondo Founder’s death news. The cause of his death has still not been publicly disclosed by the company.
The suddenness of Nathan’s death has also shocked many because just two days before the announcement, he had actively posted online discussing how Ondo would eventually rebuild and modernise the US financial system.
What stands out is that despite the tragedy, the company has not witnessed major market panic so far. While not major but ONDO did fell roughly 6–7% intraday shortly after the announcement. Traders reacted to the sudden leadership uncertainty around Ondo Finance.
But at the same time, the selloff is not catastrophic, which is a sign that the market still has confidence in Ondo’s broader institutional structure and succession planning. It is also in contrast to the wider recovering market with Bitcoin price rising amid dvancement in US-Iran ceasefire talks.What’s Next
In his absence, longtime Ondo president Ian De Bode is now expected to lead the company through the transition period. He has been immediately appointed as CEO. According to him, Ondo’s long-term vision and roadmap will continue in line with what Nathan had envisioned.
He said, “The mission of Ondo, Nate’s mission, has not changed. If Nate were here, he would want to continue executing with excellence. We will make him proud.”
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It's been an incredibly sad day for Ondo Finance. Nate was not only an incredible founder and visionary, but also a very close personal friend. He will be missed dearly.
The mission of Ondo, Nate's mission, has not changed. If Nate were here, he would want to continue… https://t.co/0Qpl24qX7w
— Ian De Bode (@iandebode) May 25, 2026
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