- Ondo Finance token fell 4% after the death of Nathan Allman was announced.
- Ian de Body officially takes over as CEO of Ondo Finance.
- Ondo TVL holds more than $2.67 billion amid market uncertainty.
The ONDO token fell nearly 4% in the past 24 hours after news emerged that Ondo Finance founder, Nathan Allman, had unexpectedly passed away.
The token is trading at around $0.421 at the time of writing, down from an intraday high of $0.444.
Trading activity also increased sharply, with daily trading volume rising to more than $229 million as investors reacted to the development.
This decline interrupted what had been a strong recovery period for ONDO.
The token has gained approximately 62% over the past 30 days, fueled by growing interest in tokenizing real-world assets (RWA) and expanding institutional participation in blockchain-based financial products.
What is the cause of Nathan Allman’s death?
Ondo Finance confirmed that Nathan Allman died unexpectedly on May 26, 2026. However, the company did not reveal the cause of death.
The lack of details has led to widespread speculation across the cryptocurrency community, although Ondo’s leadership has requested privacy for Allman’s family and close associates.
Several key figures in the digital asset industry publicly shared the tributes following the announcement.
Former Binance CEO Changpeng Zhao He was among those who interacted publicly side by side Mantle and Compound founder Robert Leshner.
Letters from industry participants described Allman as one of the key figures driving institutional adoption of tokenized assets.
Allman has become widely associated with the idea that blockchain technology could modernize capital markets through round-the-clock settlement and facilitate global access to financial products.
Under his leadership, Ondo Finance has 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 tokenized treasury market over the past couple of years.
The platform currently has more than $2.67 billion in total value locked, making it among the leading projects focused on bringing traditional financial products to blockchain networks.
Allman played a central role in this growth. Before launching Ondo Finance in 2021, he worked on the digital assets team at Goldman Sachs and previously had experience in private credit investing. He later built Ondo into one of the most popular real-world asset platforms in the cryptocurrency sector.
The company’s products include OUSG, which offers token exposure to short-term U.S. Treasuries, and US dollarsIt is a yield-generating digital dollar product backed by treasury assets.
Ondo has also expanded into tokenized equity infrastructure through Ondo Global Markets.
Ian de Body has been appointed CEO of Ondo Finance
Ondo Finance has moved quickly to address leadership concerns by appointing Ian De Bode as the company’s new CEO.
It is with deep sadness that we announce the unexpected passing of Ondo’s founder, Nathan Allman. Our thoughts are with his family and loved ones.
Nate’s brilliance, humility and leadership have shaped every part of who Ondo is today. His belief in the ability of technology to create…
— Ondo Finance (@OndoFinance) May 25, 2026
De Bode previously served as president of Ondo and had already been overseeing strategy, product development and operations for more than two years before the transition period.
His background includes working in McKinsey’s digital assets division, giving him first-hand experience in enterprise blockchain adoption and financial infrastructure.
The company stated that its long-term roadmap will continue without changes despite the change in leadership.
This message appears to be aimed at calming investors and institutional partners after the surprising news.
What to expect in the coming days
Despite the intense emotional reaction from the community, ONDO’s price action has remained relatively controlled compared to previous major cryptocurrency leadership events.
The coming days will likely focus on whether ONDO is able to maintain support above the $0.40 range as markets digest the leadership transition.
Volatility may persist in the short term because the news arrived during a period of strong upward momentum for the token.
ONDO was already up about 9% over the past seven days before the recent decline, suggesting that traders were actively positioning themselves around the broader asset narrative in the real world.
Much of the market’s attention will now turn towards how Ian De Bode handles Ondo’s corporate partnerships and ongoing expansion plans.
