Ondo Finance was reportedly presented to prospective buyers after founder and CEO Nathan Allman died unexpectedly without a will on May 25, according to three people familiar with the matter. It remains unclear who initiated the outreach, and Ondo denied that the company had sought buyers or engaged in sale discussions. Allman's controlling stake and ONDO tokens passed through probate to his parents, Kathleen and Lawrence Allman. The estate sued interim CEO Ian De Bode in early August, alleging an unlawful power and money grab, escalating a fight over corporate control. A court order permits De Bode to run day-to-day operations but bars major changes while the dispute continues. The legal battle has effectively halted reported sale discussions. Founded in 2021 by former Goldman Sachs executives, New York-based Ondo offers tokenized U.S. Treasuries and stocks and has more than $3.8 billion across its products. Its OUSG fund invests in BlackRock's tokenized BUIDL fund.