- Ondo Finance’s stock is down 4% following the announcement of Nathan Allman’s death.
- Ian De Bode takes over as Ondo Finance CEO.
- Ondo TVL has $2.67 billion amid market uncertainty.
ONDO’s token fell by almost 4% in the last 24 hours after news broke that Ondo Finance founder Nathan Allman had passed away unexpectedly.
The token traded at around $0.421 at the time of writing, down from an intraday high of $0.444.
Trading activity also rose sharply, with daily inflows exceeding $229 million as investors took action.
The decline disrupted what had been a tough recovery period for ONDO.
The token has gained about 62% in the last 30 days, supported by the growing interest in real wealth (RWA) tokenisation and increasing institutional involvement in blockchain finance.
What caused the death of Nathan Allman?
Ondo Finance confirmed that Nathan Allman died unexpectedly on May 26, 2026. However, the company did not disclose the cause of death.
The lack of details led to widespread suspicion, even as the Ondo leadership requested privacy from Allman’s family and close friends.
Several major figures in the digital economy industry publicly shared the honor after the announcement.
Former CEO of Binance Changpeng Zhao he was among the people who took action in public Inventor of Mantle and Compound Robert Leshner.
Sources from industry participants described Allman as one of the key people driving the launch of the stock.
Allman was strongly associated with the idea that blockchain technology could improve capital markets and stabilize the day-to-day and easy global access to financial services.
Under his leadership, Ondo Finance established relationships with institutions including JPMorgan Chase, Franklin Templeton, Broadridge Financial Solutions, and BlackRock.
Ondo Finance has become one of the biggest names in the market in the last two years.
The platform currently has more than $2.67 billion in investments, investing in leading projects that aim to bring financial products to the blockchain network.
Allman played a major role in that development. Before founding Ondo Finance in 2021, he worked in the financial services group of Goldman Sachs and previously had experience in private equity investments. He later built Ondo into one of the world’s most popular platforms in the crypto sector.
The company’s products include OUSG, which provides short-term exposure to US Treasuries, and USDYa multi-currency digital dollar backed by a virtual currency.
Ondo was also expanded into a token production platform through Ondo Global Markets.
Ian De Bode named CEO of Ondo Finance
Ondo Finance moved quickly to address leadership concerns by naming Ian De Bode as the company’s new CEO.
It is with great sadness that we announce the sudden death of Nathan Allman, the founder of Ondo. Our hearts go out to his family and loved ones.
Nate’s intelligence, humility, and drive make every part of Ondo today. His belief in the power of technology to create…
— Ondo Finance (@OndoFinance) May 25, 2026
De Bode previously served as Ondo’s president and was in charge of strategy, product development, and operations for over two years prior to that.
His background includes the work of McKinsey’s digital economy division, giving him direct experience in blockchain organizations set up and financial infrastructure.
The company said its long-haul routes will continue unchanged despite the change in leadership.
The message was seen as an attempt to calm investors and related organizations after the emergency news.
What to expect in the coming days
Despite the sharp reaction of the community, ONDO’s price movements remained controlled compared to the previous major events of the crypto leadership.
The coming days will focus on whether ONDO can maintain support above $0.40 as markets look for a change in leadership.
The short-term volatility may persist because the issue was reached during a strong bullish signal.
ONDO had already risen nearly 9% in the past seven days before the latest decline, indicating that traders were looking around for real world news.
The great interest in the market will now change the way Ian De Bode works with Ondo’s corporate partnership and expansion plans.
