A high-stakes corporate dispute has engulfed Ondo Finance, a blockchain company focused on tokenizing real-world assets, following the unexpected passing of its founder.
The mother of late Ondo Finance founder want to become the interim CEO of the firm.
Ondo founder Nathan Allman's estate is seeking company control in Delaware and challenging Ian De Bode's authority to serve as CEO.
Ondo Finance is facing a high-stakes corporate governance dispute following the death of founder Nathan Allman, with his estate accusing CEO Ian De Bode of improperly attempting to take control of the tokenized real-world asset company. Three filings in the Delaware Chancery Court ask a judge to determine who legally controls Ondo Finance and restrict major corporate actions until the dispute is settled.
Three Delaware court filings reveal a battle for control of Ondo Finance after founder Nathan Allman's death.
ONDO defended key support as whale transfers and seller-dominant order flow tested bullish conviction.
Ondo Finance announced the integration of its precious metal tokens, GLDon (gold) and SLVon (silver), as collateral margin for perpetual futures positions on Ondo Perps. With this move, eligible traders outside the United States can back leveraged long or short positions in equities, indices, and commodities using real-world assets (RWA) instead of keeping idle capital.
ONDO faced aggressive selling pressure in both the spot and derivatives markets, CryptoQuant data showed.
Ondo Finance has appointed former Blockchain.com executive Adam Schlisman as its chief financial officer, adding another senior Wall Street and crypto finance veteran as the tokenized-assets company expands its institutional business.
Ondo Finance deposited 4 million ONDO worth $1.56 million to Coinbase.
How Ondo's perps product has gained massive interest and trading volume after three weeks of launch.
Ondo Finance has unveiled a new infrastructure layer known as the Ondo Network, positioning it as the natural progression of its earlier blockchain concept, Ondo Chain.