Ondo Finance denies reports of sale following founder's death

Reports have emerged suggesting that Ondo Finance may have been offered for sale following the unexpected death of its founder and CEO, Nathan Allman, on May 25. While three sources familiar with the matter indicated that discussions with prospective buyers occurred, the company has issued a firm denial. A spokesperson stated that Ondo has never been offered for sale, has not engaged in sale negotiations, and has not authorized any search for buyers.

The rumors surface amid a legal battle over the control of the tokenization platform. Allman died at age 32 without a will, leaving his controlling interest and substantial ONDO token holdings in question. Following probate, his estate passed to his parents, Kathleen and Lawrence Allman.

In August, the estate filed a lawsuit against acting CEO Ian De Bode, alleging an unlawful attempt to seize power and funds. While a court order allows De Bode to manage daily operations, he is currently restricted from making major corporate decisions until the dispute is resolved. Sources suggest this legal uncertainty would likely pause any potential sale processes.