He founded the company in 2021 after working in the digital assets sector at Goldman Sachs. Under Allman's leadership, Ondo became the largest blockchain company specializing in real-world assets (RWA). They launched USDY, OUSG, and tokenized stocks through Ondo Global Markets. At the family's request, the company did not disclose further details about the cause of death. The company’s president, Ian De Bode, will become the new CEO. According to company representatives, he has led the strategy, product development, and daily operations of the company for over two years. According to rwa.xyz, 266 RWA assets have been issued on Ondo with a market capitalization of $3.9 billion and a monthly trading volume of $2.6 billion. The company’s products are used by a total of 112,000 users.