Ondo Finance has officially denied reports claiming the real-world asset tokenization platform was offered to prospective buyers following the unexpected passing of founder and controlling shareholder Nathan Allman in May 2026.
Ondo Finance Rejects Reported Buyer Outreach
A company spokesperson called reports of a potential acquisition wholly untrue, asserting that no executive or board member had sought prospective buyers or authorized an external party to initiate sale discussions. The response follows media reports citing anonymous sources claiming that outreach to potential suitors took place after Allman’s death.
The disputed account emerges amidst an ongoing corporate control dispute within the Delaware Court of Chancery. Following Allman’s death at age 32 without a will, his parents, Kathleen and Lawrence Allman, became heirs to his estate. In July, Kathleen Allman filed a civil complaint against Ondo Finance, challenging the executive authority of Acting CEO and President Ian De Bode and attempting to reconstitute the company’s board via estate voting rights.
Under current Delaware court arrangements, De Bode continues to oversee ordinary business operations while major structural changes and equity sales remain restricted pending judicial resolution.
Product Operations and Tokenization Expansion Continue
Despite the litigation, Ondo Finance has maintained active product operations and institutional rollouts across its tokenized asset ecosystem. On September 21, the firm launched an institutional conversion pathway enabling approved firms to convert traditional shares directly into Ondo Stocks via Alpaca’s Instant Tokenization Network on Ethereum and BNB Chain.
Industry data tracks over $3.6 billion in distributed assets across Ondo’s product line, while Ondo Global Markets recently crossed $18 billion in cumulative trading volume. Backed by major venture firms including Founders Fund, Pantera Capital, and Coinbase Ventures, Ondo continues to expand its tokenized equity footprint across multiple blockchain networks while the Delaware Court of Chancery evaluates the corporate governance dispute.
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