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Three people familiar with the matter told CoinDesk that Ondo Finance was shopped to potential buyers after founder and CEO Nathan Allman died on May 25. Ondo denied seeking buyers or authorizing a sale process, while Allman's estate declined to comment.
Why it matters
Allman died without a will, leaving his controlling stake and large ONDO holdings in probate. His parents later received the estate, but control of the company remains contested through litigation with acting CEO Ian De Bode.
Market impact
The estate sued De Bode in August, and a court has barred him from making major changes while the dispute continues. One source said the legal battle has likely put any potential sale on hold, adding governance uncertainty around Ondo Finance and its tokenized-asset business.
Frequently asked questions
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Why was Ondo Finance reportedly shown to potential buyers?
CoinDesk reported that Ondo Finance was shopped to potential buyers after founder and CEO Nathan Allman's death. It remains unclear who initiated the effort.
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How did Ondo respond to the reported sale process?
Ondo denied seeking buyers or authorizing any sale process. Allman's estate declined to comment.
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Why is Allman's estate central to Ondo's leadership dispute?
Allman died without a will, leaving his controlling stake and large ONDO holdings in probate. His parents later received the estate.
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What legal action did Allman's estate take against Ian De Bode?
The estate sued acting CEO Ian De Bode in August over control of the company.
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What has the court restricted while the dispute continues?
A court has barred De Bode from making major changes while the dispute remains unresolved. One source said the legal battle has likely put a potential sale on hold.
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