The crypto industry is mourning the tragic and unexpected death of Nathan Allman, founder of Ondo Finance, a prominent real-world asset (RWA) tokenization protocol.
There has been an outpouring of sadness and condolences from key figures in the cryptocurrency industry, including executives from Ripple and Bigget.
DeFi and TradFi visionaries
Ondo Finance today confirmed Mr. Allman’s death in a heartfelt statement. The statement highlights his significant impact on the company and its integration of traditional finance (TradFi) and decentralized finance (DeFi).
The company also announced that it has made changes to its management team, effective immediately. Ian de Bode, who served as the company’s president for many years, will become CEO.
Ondo Finance emphasized that continuing to build on what Mr. Allman started is “the most meaningful way we know of to honor him.”
pay respect
David Schwartz, Ripple’s Chief Technology Officer Emeritus, expressed his gratitude for the opportunity to work with Allman.
“It was an honor to meet Nathan. He was a truly thoughtful architect and leader in this industry. We are grateful for the opportunity to work with him and his partnership. Our thoughts are with his family and the entire Ondo team,” Schwartz said in X.
It was a pleasure to meet Nathan. He was a truly thoughtful architect and a leader in the industry. We appreciated the opportunity to work with him and his partnership. Our thoughts are with his family and the entire Ondo team. https://t.co/WagXaBRRe5
— David ‘JoelKatz’ Schwartz (@JoelKatz) May 26, 2026
Ondo recently completed a large-scale institutional pilot on the XRP Ledger.
Gracie Chen, CEO of cryptocurrency exchange Bitget, shared a touching personal anecdote about meeting Allman ahead of the launch of the ONDO token in 2023.
She recalled recognizing his immense potential as a Wall Street veteran who was also familiar with cryptocurrencies.
“Over the next two years, we accomplished a lot together,” Chen wrote. “Even after his death, I suspect he will still be envisioning how TradFi and DeFi can work together.”
