Ondo Finance, one of the leading decentralized finance (DeFi) platforms in the crypto industry, announced that its co-founder and CEO, Nathan Allman, has died. The company shared the news on Monday, May 25, and said it is also moving to ensure leadership continuity in the wake of the tragedy.
Ondo Finance Confirms New CEO
In a post on X (formerly Twitter), Ondo Finance said, “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.”
Ondo also said the personal and industry impact of Allman’s contributions “cannot be overstated,” and noted that he played a key role in building a durable organization with experienced leaders across multiple areas of the business.
Alongside the tribute, Ondo Finance announced a leadership change. The company said Ian De Bode, its longtime President, will take over as CEO. Ondo said it will continue building what Allman started, calling that effort the “most meaningful way” to honor him.
Nathan Allman Remembered
The news also drew reactions from other figures in the crypto ecosystem. Gracy Chen, CEO of Bitget, said that since 2023, the two sides “achieved so much together,” noting the listing of Ondo Finance’s native token, ONDO, and support of its real-world asset (RWA) strategy.
Chen added that as the industry continues, “we will continue pushing the boundaries of tokenization and carrying that shared vision ahead.”
Nathan Allman co-founded Ondo Finance in 2021. Before launching Ondo, he worked as part of the Digital Assets team at Goldman Sachs, where he developed experience in asset management and blockchain technology.
Following Ondo Finance’s statement, the price of ONDO dropped by 6.5% to $0.41. Nevertheless, the platform’s native token still records gains of 59% over the last thirty days.
Featured image from The Street; chart from TradingView.com
