After Ondo Finance founder Nathan Allman died suddenly without a will, his parents inherited a controlling stake in the company, sparking a legal battle. Acting CEO Ian De Bode faces accusations from Allman's mother, Kathleen, of trying to seize control and secure an $11 million compensation package. Meanwhile, Kathleen's daughter and an investor have petitioned for a conservatorship over Kathleen's share, alleging dementia, alcoholism, and reckless spending, claims she denies. The dispute highlights risks in startup succession and governance after an unexpected founder death, with court decisions pending on control and management of Ondo Finance's assets.
Ondo Finance's token ONDO surged nearly 10% in one day, trading at Rp6,605 on Pluang as of Sep 18, 2026 04:41 WIB. This sharp rise comes amid the ongoing succession crisis and legal disputes involving the late founder's family, which may be influencing investor sentiment. ONDO's market cap stands at Rp32.07 trillion with a daily trading volume of Rp4.01 trillion, while Pluang users show a slightly higher inclination to sell (57%) than buy (43%), holding their positions for an average of 47 days.
