Someone was trying to sell Ondo Finance after founder Nathan Allman's death
Under a current court order, De Bode remains Ondo’s CEO and can oversee day-to-day operations, but he cannot make major changes to the company while the dispute over its control is being resolved. A separate court petition by Allman’s half-sister and an Ondo investor sought to limit Kathleen’s control over her share of the estate. Kathleen Allman denied the petition’s allegations.
The escalating legal fight for control of the firm has likely put any plans for a sale on hold, one of the people said.
An Ondo spokesman denied that the company was, at any point, looking for buyers, calling the talk of a potential sale “wholly untrue.”
“Nobody at the company has shopped it for sale, been in sales talks, or engaged or asked anyone to do so on its behalf. There are no facts to support this,” the spokesperson added.
The estate declined to comment.
Founded in 2021 by former Goldman Sachs executives, New York-based Ondo offers tokenized U.S. Treasuries and stocks and has more than $3.8 billion across its products, making it one of the largest platforms for real-world assets on blockchain. Ondo’s OUSG fund holds investments in BlackRock’s tokenized BUIDL fund.