Ondo Finance was reportedly shopped to buyers following founder Nathan Allman's death in May, triggering an estate dispute over control and ONDO holdings.
Regulation & Gov ·
Following the death of Ondo Finance founder and CEO Nathan Allman on May 25, the company was approached by potential buyers, though the party who initiated the shopping effort remains unclear. Ondo denied involvement in any sale process, while Allman's estate declined comment on the matter. Allman's death occurred without a will in place, leaving his controlling stake and substantial ONDO token holdings caught in probate proceedings, with the estate subsequently transferred to his parents.
The situation has been complicated by litigation. In August, the estate filed suit against acting CEO Ian De Bode over company control, and a court has since imposed a restriction preventing De Bode from making major decisions while the dispute continues. According to sources involved, the ongoing legal battle has likely halted any momentum toward a sale in the interim.
What remains unresolved is the ultimate outcome of the estate lawsuit and whether Ondo's leadership and token-holder structure will eventually stabilize, as well as whether any buyer interest will resurface once the dispute concludes.