Ondo Finance was shopped to buyers after founder's death

Three people with knowledge of the matter said Ondo Finance was shopped to prospective buyers after founder and CEO Nathan Allman died. Ondo offers tokenized Treasuries and stocks. The company had more than $3.8 billion across its products. Two of the people said the outreach occurred sometime after Allman died on May 25. Those two people spoke on condition of anonymity because the matter was private. It remains unclear who was behind the attempts to sell Ondo Finance. In early August, Allman's estate sued acting CEO Ian De Bode. The estate alleged an unlawful power and money grab. The suit sparked a corporate control fight. Allman died unexpectedly at 32 without a will. His death created uncertainty over his controlling stake in Ondo Finance and his ONDO tokens. After a probate process, his estate was awarded to his parents. His parents were Kathleen Allman, who was 77, and Lawrence Allman, who was 82.