Ondo Finance leadership and estate dispute

Following the sudden death of Ondo Finance founder Nathan Olman (also referred to as Nathan Allman) in May without a will, a complex legal and corporate dispute has emerged regarding the control of the RWA tokenization platform and his substantial ONDO token holdings.

The estate, which passed to Olman’s parents, has been involved in litigation against acting CEO Ian de Bond (or De Bode). The estate has alleged an “unlawful attempt to seize power and funds,” specifically citing an attempted $11 million compensation package. While court orders currently allow de Bond to manage daily operations, he is restricted from making major corporate decisions.

Parallel to the corporate struggle, a family legal battle has developed in Hawaii. Olman’s half-sister, Lani Clinton, and investor David Chen have petitioned for a limited guardianship for Olman’s mother, Kathleen Olman, alleging cognitive decline and alcohol abuse. Kathleen Olman has denied these claims, describing them as “baseless personal attacks by management seeking to seize control.”

Amidst this instability, rumors surfaced regarding a potential sale of the company. However, Ondo Finance has issued a firm denial, stating the company has “never been offered for sale, has not engaged in sale negotiations, and has not authorized any search for buyers.”