CoinDesk reports Ondo Finance was shopped to prospective buyers after founder's death
Tokenization platform Ondo Finance was shopped to prospective buyers following the May death of founder and CEO Nathan Allman, according to a report by CoinDesk. Ondo Finance has denied seeking buyers or authorizing a sale process, while Allman's estate declined to comment amid an ongoing legal dispute over company control.
Tokenization platform Ondo Finance was shopped to prospective buyers following the death of founder and CEO Nathan Allman on May 25, according to a CoinDesk report citing three people familiar with the matter. It remains unclear who initiated the effort to solicit buyers. Ondo Finance has vehemently denied that it was shopping for buyers or authorizing any sale process, while Allman's estate declined to comment.[1][2][3]
Allman died without a will, sending his controlling stake and significant ONDO token holdings into probate before the estate was awarded to his parents. In August, Allman's estate filed a lawsuit against acting CEO Ian De Bode regarding control of Ondo Finance. A court subsequently barred De Bode from making major changes while the dispute is pending, and one source reported that the legal battle has likely put any potential sale on hold.[2]
Key facts
- CoinDesk reported that tokenization platform Ondo Finance was shopped to prospective buyers after founder and CEO Nathan Allman died on May 25, citing three people familiar with the matter.
- It remains unclear who initiated the effort to shop Ondo Finance to potential buyers.
- Ondo Finance vehemently denied seeking buyers or authorizing any sale process, while Allman's estate declined to comment.
- Nathan Allman died without a will, leaving his controlling stake and large ONDO holdings in probate before the estate was awarded to his parents.
- Allman's estate sued acting CEO Ian De Bode in August over control of the company, and a court barred him from making major changes while the dispute remains unresolved.
- One source stated that the ongoing legal battle has likely placed any prospective sale of Ondo Finance on hold.
Sources · 3 sources
- CO
CoindeskArticle ·
Someone was trying to sell Ondo Finance after founder Nathan Allman's death The company has vehemently denied that it was shopping for buyers. Allman’s estate declined to comment.
Open source - WB
Wu Blockchain@WuBlockchainPost on X ·
CoinDesk: Ondo Finance Was Shopped to Potential Buyers After Founder Nathan Allman’s Death CoinDesk, citing three people familiar with the matter, reported that Ondo Finance was shopped to potential buyers after founder and CEO Nathan Allman died on May 25, though it remains unclear who initiated the effort. Ondo denied seeking buyers or authorizing any sale process, while Allman’s estate declined to comment. Allman died without a will, leaving his controlling stake and large ONDO holdings in probate; his estate was later awarded to his parents. The estate sued acting CEO Ian De Bode in August over control of the company, and a court has barred him from making major changes while the dispute remains unresolved. One source said the legal battle has likely put any potential sale on hold.
Open source - CO
CoinDesk@CoinDeskPost on X ·
SCOOP: Tokenization platform Ondo Finance was shopped to prospective buyers after the sudden death of its founder and CEO Nathan Allman in May, according to sources. @willcanny99 reports https://t.co/YDVvi6eUGZ
Open source