Ondo founder Nathan Allman dies at 32

Ondo Finance announced on X that Nathan Allman, the company’s founder and CEO, died unexpectedly on Monday and that his family has requested privacy.

Allman founded Ondo in 2021 and led the firm’s effort to create tokenized representations of conventional assets. The company said he helped place $3.86 billion of tokenized real‑world assets on-chain, including U.S. Treasuries, stocks and commodities. Ondo reports more than 111,680 token holders own at least one of its tokenized offerings.

Ondo described tokenization as a way to enable on‑chain settlement and transfer of assets, which the firm has said can speed trading and settlement and reduce frictions in asset management and clearing.

Ian De Bode, Ondo’s president, will step in as CEO. De Bode commented that the day was very sad for the company, called Allman a close friend, and said the firm will continue the work Allman started.

Ben Grossman, Ondo’s vice president and head of marketing, characterized Allman as a rare founder and a strong strategic thinker and said he would be missed by colleagues.

Before founding Ondo, Allman worked on Goldman Sachs’ digital asset team and founded ChainStreet Capital, a crypto hedge fund focused on algorithmic, event‑driven trading.

Ondo did not provide further details about the circumstances of Allman’s death. The company expressed condolences to his family and noted the impact he had on Ondo and its employees.