TLDR
- ONDO price fell as much as 7% toward $0.35 amid a leadership dispute at Ondo Finance.
- Nathan Allman’s estate is seeking control of Ondo Finance following his death in May.
- Kathleen Allman was appointed interim CEO after the estate-backed board removed Ian De Bode.
- ONDO broke below $0.37 support, with $0.35 and $0.33 emerging as key downside levels.
- Uncertainty around the delayed U.S. CLARITY Act vote is adding pressure to the RWA sector.
ONDO price fell sharply to around $0.35 as a legal dispute over control of Ondo Finance added pressure to the token. The decline also came as traders monitored delays surrounding the U.S. CLARITY Act, which could affect the regulatory outlook for tokenized real-world assets.
Ondo Finance Faces Leadership Dispute
A corporate control dispute has emerged following the death of Ondo Finance founder Nathan Allman in May. Delaware court filings show that his estate is challenging the actions taken by former President and current CEO Ian De Bode after Allman’s death.
The estate claims Allman was the controlling shareholder, sole director and CEO when he died. His voting rights later transferred to his estate, with his mother, Kathleen Allman, becoming the personal representative after probate proceedings ended on June 26.
The filings allege that De Bode assumed the CEO role and took corporate actions before the estate could exercise its voting rights. The estate argues that Ondo’s bylaws required board action to appoint a new CEO.
De Bode has rejected the allegations and described the claims as “meritless.” He also said the lawsuit was “regretful” and not in the interests of the company, its shareholders, employees or the wider Ondo ecosystem.
Estate Seeks Control of Ondo Finance
Kathleen Allman initially sought a cooperative transition after gaining authority over the estate’s shares, according to the court filings. The estate says those efforts failed after De Bode and outside counsel declined to recognize her actions or provide requested corporate records.
On July 24, the estate-backed board voted to remove De Bode from his positions and appointed Kathleen Allman as interim CEO and chair. The filings describe the move as a temporary step while the board searches for a permanent successor.
The court has not ruled on the allegations, and the filings represent the estate’s position in the dispute. Ondo’s board said it remains focused on continuing operations and supporting the founder’s vision for onchain financial markets.
The dispute has emerged as Ondo Finance continues operating in the tokenized real-world asset market. The company has built products around tokenized U.S. Treasuries and other assets, making its corporate governance a focus for investors and market participants.
ONDO Price Breaks Key Support
ONDO was trading near $0.3513 after falling about 5% to 8% over the previous 24 hours. The token has also moved below the $0.37 area, which had previously provided support during its July recovery.
Technical data shows that ONDO has broken below an ascending trendline that supported the price from the mid-July low near $0.305. The move has been followed by lower highs and lower lows after the token failed to hold gains above the $0.42 resistance zone.
Source: X
The $0.35 level is now being tested as immediate support. A sustained break below that area could expose ONDO to the $0.33-$0.325 range, followed by the $0.31-$0.305 area.
A recovery above $0.37 would provide an early sign of price stabilization. A move above $0.40 could shift attention back toward the $0.422-$0.43 resistance zone.
CLARITY Act Delay Adds to Market Pressure
ONDO has also faced pressure from uncertainty around the U.S. CLARITY Act, which is being watched closely by the tokenized asset sector. The legislation could establish clearer rules for digital assets and platforms operating in the United States.
The delay in the Senate vote has added another point of uncertainty for markets tied to real-world asset tokenization. ONDO’s price decline therefore comes alongside both company-specific governance concerns and broader regulatory developments.
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