Ondo Finance denies sale talks after founder’s death

cryptonews

Sep 25

Ondo Finance has denied a report based on three anonymous sources that the tokenization company was offered to prospective buyers after founder Nathan Allman died on May 25, 2026. Summary Ondo ...

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One of the best stock trading platforms in Singapore.","ogImage":"https://c1.itigergrowtha.com/portal5/static/media/og-logo.0a0bd8dc.png","ogUrl":"https://sg1.tigeractivity.com/news/2670410973"},"companyName":"Tiger Brokers"},"pageData":{"isMobile":false,"isTiger":false,"isTTM":true,"region":"SGP","license":"TBSG","edition":"fundamental"},"isCrawlerRequest":true,"__swrFallback__":{"@#url:\"https://stock-news.skytigris.cn/v3/news\",params:#id:\"2670410973\",edition:\"fundamental\",auth_exemption:1,,,undefined,":{"share":"https://ttm.financial/m/news/2670410973?lang=en_US&edition=fundamental","thumbnail":"","is_english":true,"pubTime":"2026-09-25 13:09","share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","id":"2670410973","market":"hk","top_or_hot":-1,"title":"Ondo Finance denies sale talks after founder’s death","media":"cryptonews","content":"<div>\n<p>Ondo Finance has denied a report based on three anonymous sources that the tokenization company was offered to prospective buyers after founder Nathan Allman died on May 25, 2026.\n\n\nSummary\n\n\n\nOndo ...</p>\n\n<a href=\"https://crypto.news/ondo-finance-denies-sale-talks-after-founders-death/\">Source Link</a>\n\n</div>\n","source":"crypto_news_highlight","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; 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height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nOndo Finance denies sale talks after founder’s death\n</h2>\n\n<h4 class=\"meta\">\n\n\n2026-09-25 13:09 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://crypto.news/ondo-finance-denies-sale-talks-after-founders-death/><strong>cryptonews</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Ondo Finance has denied a report based on three anonymous sources that the tokenization company was offered to prospective buyers after founder Nathan Allman died on May 25, 2026.\n\n\nSummary\n\n\n\nOndo ...</p>\n\n<a href=\"https://crypto.news/ondo-finance-denies-sale-talks-after-founders-death/\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"GLS.SI","symbol_name":"Lion SG Phy Gold S$","start_time":0,"source_url":"https://crypto.news/ondo-finance-denies-sale-talks-after-founders-death/","article_id":"2670410973","we_media_id":null,"thumbnails":[],"rights":{"source":"crypto_news_highlight","url":"https://crypto.news/ondo-finance-denies-sale-talks-after-founders-death/","rn_cache_url":null,"directOrigin":true},"url":"https://stock-news.laohu8.com/highlight/detail?id=2670410973","pubTimestamp":1790312967,"columns":[],"sourceInfo":{"source_id":"crypto_news_highlight","name":"Crypto News"},"weMediaInfo":null,"summary":"Ondo Finance has denied a report based on three anonymous sources that the tokenization company was offered to prospective buyers after founder Nathan Allman died on May 25, 2026.Ondo Finance denied seeking buyers after anonymous sources reported sale outreach following Nathan Allman’s death.Three sources said Ondo Finance was offered to prospective buyers after Allman died in May.Delaware court records show Kathleen Allman’s control case against Ondo Finance remains active since July.Ian De Bode remains acting CEO while court order limits major corporate changes during litigation.Ondo launched institutional share conversions this week, showing product operations continue during the governance dispute.Ondo rejected the account. A company spokesperson called reports of a possible sale “wholly untrue” and said nobody at the company had sought buyers or authorized another party to do so. Allman’s estate declined to comment to CoinDesk.Kathleen Allman’s Delaware complaint disputes De Bode’","collect":0,"end_time":0,"defaultTopTitle":"crypto.news","property":[],"viewcount":null,"language":"en","relate_stocks":{"GLS.SI":"Lion SG Phy Gold S$","CLR.SI":"LION-PHILLIP S-REIT","SRT.SI":"CSOP S-REITs INDEX ETF","JJJ.SI":"Lion-Nomura Japan Active ETF","CFA.SI":"NikkoAM-STC Asia REIT","SRU.SI":"CSOP iEdge SREIT ETF US$"},"translate_title":"Ondo Finance 否认创始人去世后的出售谈判","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"CFA.SI":0.9,"SRT.SI":0.6,"JJJ.SI":0.6,"SRU.SI":0.6,"GLS.SI":0.6,"CLR.SI":0.6},"content_text":"Ondo Finance has denied a report based on three anonymous sources that the tokenization company was offered to prospective buyers after founder Nathan Allman died on May 25, 2026.\n\n\nSummary\n\n\n\nOndo Finance denied seeking buyers after anonymous sources reported sale outreach following Nathan Allman’s death.\nThree sources said Ondo Finance was offered to prospective buyers after Allman died in May.\nDelaware court records show Kathleen Allman’s control case against Ondo Finance remains active since July.\nIan De Bode remains acting CEO while court order limits major corporate changes during litigation.\nOndo launched institutional share conversions this week, showing product operations continue during the governance dispute.\n\n\n\nCoinDesk reported that outreach to prospective buyers took place sometime after Allman’s death, citing three people familiar with the matter. Two sources placed the outreach after May 25, but the report said it could not establish who initiated the effort or what valuation may have been discussed.\nOndo rejected the account. A company spokesperson called reports of a possible sale “wholly untrue” and said nobody at the company had sought buyers or authorized another party to do so. Allman’s estate declined to comment to CoinDesk.\n\nSCOOP: 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— CoinDesk (@CoinDesk) September 24, 2026\n\nOndo Finance rejects reported buyer outreach\nThe disputed sale account comes as control of Ondo remains before courts following Allman’s unexpected death at age 32. He died without a will while holding a controlling stake in Ondo Finance, leaving questions over who could exercise the voting rights attached to his shares.\nAfter probate proceedings in Hawaii, Allman’s parents, Kathleen and Lawrence Allman, became heirs to his estate. Kathleen later received authority as personal representative and asserted that the estate’s voting rights allowed her to reconstitute Ondo’s board. De Bode disputed the estate’s attempt to remove him. The competing claims eventually reached the Delaware Court of Chancery.\nThe Delaware judiciary’s public CourtConnect docket shows Kathleen C. Allman v. Ondo Finance Inc., Case No. 2026-0978, was filed on July 24. The docket currently lists the civil case as active before Chancellor Kathaleen McCormick and shows no scheduled case events on the public page.\nCoinDesk reported that the present court arrangement allows De Bode to oversee ordinary business while restricting major changes until the corporate-control dispute is resolved. One anonymous source said the litigation had likely stopped any possible sale process, but that assessment has not been confirmed by Ondo or Allman’s estate.\nCourt fight centers on who controls Ondo\nKathleen Allman’s Delaware complaint disputes De Bode’s authority after Nathan’s death. The estate alleges De Bode began presenting himself as CEO without valid board approval and later took steps to establish control while the estate’s voting rights were still passing through probate. De Bode has rejected those allegations as meritless.\nAt the time of Nathan Allman’s death, court filings described him as Ondo’s controlling shareholder and sole director, with another board seat vacant. Kathleen was appointed personal representative of the estate in Hawaii on June 26 and later used shareholder consents to appoint directors and attempt to remove De Bode, according to reporting on the complaint.\nThe estate has challenged a compensation arrangement that it says was prepared for De Bode following Allman’s death. Court-related reporting places the disputed package at roughly $11 million, including salary, a signing payment, restricted token units and equity awards. The amounts remain allegations in the litigation and have not been established as wrongdoing by a final court ruling.\nDe Bode remains Ondo’s public-facing leader. The company’s current leadership page lists him as “Acting CEO and President,” while Allman is listed as founder.\nEstate dispute has expanded into Hawaii\nA separate proceeding has developed around Kathleen Allman’s control of her share of the estate. Allman’s half-sister, Dr. Lani Clinton, and Ondo investor David Chen petitioned a Hawaii court for a limited conservatorship covering that interest.\nThe petition contains allegations about Kathleen’s ability to manage financial affairs, which her lawyers have denied. Kathleen has argued that the filing is connected to the fight over Ondo and has rejected its allegations as baseless. No final ruling establishing the contested claims was identified in the latest records reviewed.\nThe estate holds more than corporate voting rights. Court-related reports describe it as containing a large allocation of ONDO tokens, including tokens already unlocked and others scheduled to unlock during the next three years. The exact size of the estate’s controlling equity position is redacted from public versions of the corporate filings.\nNo public filing reviewed establishes that Kathleen, De Bode, the Ondo board or the estate formally retained an investment bank to sell the company. CoinDesk said it could not identify who initiated the reported outreach or determine a proposed sale price. Ondo has not disclosed a valuation in its publicly announced equity rounds.\nOndo operations continue while the case remains active\nOndo’s public product activity has continued during the court fight. On September 21, the company announced a new institutional route allowing approved firms to convert underlying shares directly into Ondo Stocks through Alpaca’s Instant Tokenization Network. The conversion service is live on Ethereum and BNB Chain.\nAs crypto.news reported in its coverage of Ondo’s new institutional share-conversion route, institutions need active Ondo and Alpaca accounts and approval before using the service. RWA.xyz data cited in that report tracked $3.63 billion in Ondo distributed assets across 441 products as of September 22.\nThe company has continued expanding tokenized equities during 2026. In related coverage, crypto.news reported that Ondo brought tokenized U.S. stocks to Hyperliquid’s HyperEVM, while Ondo Global Markets had reached nearly $18 billion in cumulative trading volume at that point.\nOndo had been pursuing acquisitions before the report that somebody tried to sell the company. Crypto.news reported in July that Ondo was exploring an acquisition worth up to $500 million in wealth technology or adjacent financial businesses. No formal adviser or specific acquisition target had been disclosed at the time.\nOndo’s official funding history shows a $20 million Series A in 2022 led by Founders Fund and Pantera Capital, with Coinbase Ventures, Tiger Global, GoldenTree, Wintermute, Flow Traders and others participating. The company had previously raised $4 million in its 2021 equity round.\nMost recently, Ondo’s September 21 institutional conversion launch said approved firms can transfer existing shares from an Alpaca account into Ondo’s Alpaca account before corresponding Ondo Stocks tokens are issued onchain. Redemptions reverse the process, returning underlying shares to the institution’s Alpaca account.\n\n\n\n\n\n                Read more:\n            \n\n                SEC’s Peirce backs zero-knowledge proofs for KYC","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":false,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"isVideo":false,"video":null,"symbols":[],"gpt_button":0,"need_auth":false,"need_login_tip":false,"code":"91000000","status":"200"}}}