The Ondo Finance Sale was reportedly discussed with prospective buyers after founder and CEO Nathan Allman’s unexpected death on May 25, according to three people familiar with the matter. Two sources said the outreach occurred after his death, although it remains unclear who initiated the discussions or represented the company during any potential sale process.
The reported sale efforts come as Ondo faces a separate dispute over control of the business and Allman’s estate. In early August, the estate sued acting CEO Ian De Bode, alleging an unlawful power and money grab. The allegations have intensified questions about who has authority over Ondo following Allman’s death.
Allman died unexpectedly at 32 without leaving a will, creating uncertainty around his controlling interest in Ondo and his substantial ONDO token holdings. However, after the probate procedure, the estate of the founder went to his parents, Kathleen Allman and Lawrence Allman.
Table of Contents
Also Read | Arbitrum’s ARB Price Eyes Recovery as Market Activity Signals Renewed Momentum
Ondo Finance Sale Claims Face Company Denial
Ondo denies the rumors regarding the sale. A spokesperson for the company claimed that the rumors of a sale were wholly untrue, as Ondo has never been offered for sale, engaged in talks regarding the sale of the company, nor given permission to look for buyers. The company did not comment further on this issue.
The source said that the legal dispute would most likely put any possible plans of sale on pause. The reason behind it is that any possible buyer needs to be sure about who owns the company, who has the power to sell the company and make other major decisions while the dispute still goes on.
Currently, the court decision permits Mr. de Bode to continue as the CEO of Ondo and control its day-to-day activities. Nonetheless, he has no right to implement any changes in the structure of the company as long as the dispute over control persists.
Legal Fight Adds Pressure Around Control
This issue also encompasses another lawsuit filed by Allman’s half-sister together with an Ondo investor. The purpose of the lawsuit was to restrict the control Kathleen Allman had over her stake in the company. She has denied the claims.
Ondo’s position in the tokenization sector makes the dispute important beyond a normal founder succession case. The company was founded in 2021 by former Goldman Sachs employees in New York and has been working on developing products in relation to tokenized U.S. treasuries and equities. As of now, Ondo boasts a total of more than $3.8 billion in its product lines.
The company also has an OUSG investment fund that is invested in BlackRock’s tokenized BUIDL fund. This means that Ondo has already been established as a player in the rising real-world asset sector, which deals with tokenization of traditional assets by financial organizations.
Ondo Finance Sale Funding Reaches $34 Million
The Ondo Finance sale secured $24 million in equity financing, comprising $4 million from its 2021 raise and a $20 million Series A from 2022. In addition, a $10 million token sale takes the amount of public fundraising for the company to $34 million. Among the equity funders of Ondo Finance are Pantera Capital, Founders Fund, Coinbase Ventures, and Tiger Global.
Ondo Finance has not provided a valuation for its fundraising, and the price mentioned in any of its reported sale outreach cannot be identified. This means that there is no identifiable value of what Ondo could have been worth in the sale outreach discussions. The product assets, investors, and position of Ondo in tokenization would remain significant even if it enters into a transaction.
Also, the sale outreach occurs when crypto M&As are performing well. According to Architect Partners, announced crypto M&As reached $12.9 billion in Q2, becoming the second-highest quarterly value in the industry. The largest deal in Q2 was that of Bullish, which paid $4.2 billion for Equiniti, and tokenized securities infrastructure was one of its strategic themes.
ONDO Token Watches Key Technical Levels
These developments at the corporate level are taking place amid trading on the public market for ONDO tokens. Crypto analyst Giannis Andreou noted that the token recently breached the $0.475 resistance and is observing to see if ONDO can retest that zone as a support zone. On his graph, he sees $0.68 and $0.80 as the other technical levels.
However, Andreou provides the market view without verifying the negotiations for the sale, as well as connecting the dispute at hand with the movement of the ONDO token price. In this respect, this distinction is essential for the shareholders of ONDO and the traders since estate procedures, corporate ownership, and trading of the ONDO tokens may not be synchronized all the time.
The subsequent step for Ondo will depend on the judicial proceedings regarding corporate control and estate of Allman. At present, the orders issued by the court prevent the corporation from taking any steps until the matter is resolved. Meanwhile, Ondo will conduct its business through the management of De Bode.
Also Read | ARK Venture Fund Tokenization: Major Win on Ethereum 2026
