Ondo news

A governance dispute has erupted at Ondo Finance following founder Nathan Allman's death in May. His estate, led by his mother Kathleen Allman, accuses CEO Ian De Bode of unlawfully seizing control while probate left the estate's voting stake in limbo. Filings in Delaware Chancery Court seek to determine lawful control and bar major actions until resolved. The estate claims De Bode self-appointed as CEO and director, invalid under bylaws. After being appointed personal representative in June, Allman initially sought cooperation but later removed De Bode from all positions. De Bode called the claims meritless, saying the board has engaged constructively. Court has not ruled, and the company continues operations as it searches for a successor.

After Nathan Allman's death was announced in May, Ondo Finance said that Ian De Bode would take over as CEO.

Ondo Finance has appointed former Blockchain.com CFO Adam Schlisman as its new chief financial officer. Schlisman joins from Monashee Investment Management, where he also served as CFO, and brings experience from Graham Capital Management. The move comes as the tokenized-assets firm expands its onchain capital markets business, with over $3.5 billion across its products, including tokenized U.S. Treasuries and stocks. Schlisman stated the firm has reached an inflection point, citing growth in Ondo Stocks and work with traditional market infrastructure providers like DTCC. The platform operates on Solana, Ethereum, and BNB Chain, integrated with major exchanges and wallets. CoinDesk recently reported Ondo is evaluating an acquisition between $250 million and $500 million.

Ondo Finance is exploring an acquisition valued between $250 million and $500 million to expand into wealthtech, though no target has been identified. The move follows the closure of an SEC investigation, new FINRA authorizations for its broker-dealer subsidiary, and the tokenization of BlackRock's IVV ETF under a SEC-endorsed framework. The tokenized real-world asset market has surpassed $36 billion, with Ondo managing over $2.5 billion in assets. The company has also pivoted from building a Layer 1 blockchain to launching Ondo Network, a high-speed execution layer, and is integrating with traditional finance through partnerships with Mastercard, Fidelity, PayPal, and the DTCC. The ONDO token's price remains disconnected from platform growth, trading around $0.41 despite the expansion. Ondo's strategic focus is on regulatory infrastructure and institutional relationships to differentiate in a rapidly growing and competitive market.

Ondo Finance is considering a potential acquisition valued between $250 million and $500 million, according to a CoinDesk report. The tokenization company, which brings traditional financial assets onchain, has not appointed advisers or entered discussions with a specific target. An Ondo representative said the company regularly evaluates the market as part of normal business operations but is not in conversations with any party at this time. The New York-based company, founded in 2021 by former Goldman Sachs executives, oversees more than $2.5 billion in tokenized products, making it one of the largest providers of real world assets. The potential deal comes amid strong crypto acquisition activity in 2026, with the sector recording $3.2 billion in Q1 deals and $12.9 billion in Q2 disclosed value. ONDO was trading about 6% higher at roughly $0.42 at publication time.

Tokenized-assets firm Ondo Finance is evaluating a potential acquisition valued between $250 million and $500 million, according to a person with knowledge of the matter. The New York-based company is considering wealthtech targets, among others, but has not yet appointed formal advisers. Ondo, founded in 2021 by former Goldman Sachs executives, manages over $2.5 billion in tokenized real-world assets. The firm has raised only $24 million in venture funding plus a $10 million token sale, making it one of crypto's most capital-efficient infrastructure companies. The potential deal comes amid robust crypto M&A activity in 2026, with tokenization and institutional infrastructure among key targets. Recent transactions include Kraken's $550 million purchase of Bitnomial and CoinDesk owner Bullish's $4.2 billion acquisition of Equiniti.

Ondo Finance has abandoned its plans to build a traditional layer-1 blockchain, instead launching Ondo Network, a private high-speed trading network designed for institutional use. The network powers Ondo Perps, a perpetual futures platform that allows trading using tokenized assets as collateral, separating fast trade execution from settlement on public blockchains. The decision marks a pivot from Ondo's February 2025 vision for Ondo Chain. The firm concluded that a conventional blockchain was not ideal for the speed and privacy required by institutional trading. Ondo, a major issuer of tokenized U.S. Treasuries and equities with about $3.45 billion in assets, aims to build broader trading infrastructure amid growing Wall Street interest in tokenization and 24/7 markets. Ondo Network separates trade execution and settlement, executing orders privately for speed while settling asset transfers on public blockchains. This addresses institutional concerns about exposing trading activity. The network may later support spot markets, lending, and structured products.

Ondo Finance has launched an offchain execution network, the Ondo Network, shifting from its previously announced institution-focused layer-1 blockchain, Ondo Chain. The network processes trades off public blockchains using Trusted Execution Environments, with transfers ultimately recorded onchain. Ondo described the system as a continuation of Ondo Chain, which reached testnet in 2025 but is not a blockchain today.

Ondo Finance has launched the Ondo Network, an execution layer designed for fast, private, and non-custodial trading, replacing its previously planned Ondo Chain. The network separates execution from settlement, using secure hardware enclaves for private processing and decentralized attestors to verify code, while asset transfers settle on public blockchains like Ethereum. Ondo Perps is the first application, offering 24/7 perpetual futures on equities and commodities with up to 20x leverage for non-U.S. users. The ONDO token remains a governance and ecosystem token. Separately, Ondo's subsidiary Oasis Pro Markets received FINRA authorizations for regulated tokenized securities in the U.S., though individual products remain subject to compliance.

ONDO Finance has launched the ONDO Network, a hybrid execution layer for tokenized real-world assets, replacing its earlier plan for a standalone Layer 1 blockchain. The network, live since July 27, uses secure hardware enclaves for fast, private trade execution and a decentralized attestor network for verification, while settling on public chains like Ethereum. Its first major application, Ondo Perps, offers perpetual futures trading with up to 20x leverage and accepts tokenized stocks as collateral, a first for such platforms. The pivot from the originally announced Ondo Chain was driven by feedback prioritizing performance and privacy over another Layer 1, according to CEO Ian De Bode. The network will evolve in complexity and decentralization over time. The ONDO token, trading around $0.40 with a market cap near $2 billion, is used for governance and incentives. However, the hybrid design introduces trust assumptions around hardware enclaves and attestor decentralization that could face scrutiny.