Altcoins News
By Steven Anderson
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What Happened After Allman Died. Allman wasn't just the founder. He was CEO, sole director, and controlling shareholder — basically…
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Kathleen Allman Takes the Interim CEO Chair. Once Kathleen Allman had legal standing to vote the estate's shares, she didn't come in swinging —…
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New CFO Hired Amid the Chaos. Even with all this going on, Ondo made a significant hire. Adam Schlisman, a former Blockchain.
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Ondo Finance is in a full-blown corporate crisis. The company's founder, Nathan Allman, died earlier this year, and what followed has turned into a messy legal war over who…
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The fight is now playing out in Delaware Chancery Court, where Allman's estate has filed three separate cases.
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Allman wasn't just the founder. He was CEO, sole director, and controlling shareholder — basically the whole table. When he died in May, his voting power passed to his estate.
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Ian De Bode moved fast in that window. According to court documents, De Bode said Ondo's bylaws made him CEO automatically.
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He called the estate's claims meritless and said the company has strong backing from key investors and the Ondo Foundation.
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But De Bode and the company's legal counsel, per the estate's account, refused to recognize her board actions or hand over the records she requested.
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Related: Tether Bets on Saudi Real Estate With Hadron Platform and 2 Local Partners
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Kathleen Allman expanded the board, brought in new directors, and on July 24 removed De Bode from every position he held at the company. She appointed herself interim CEO.
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The estate's filings make clear that the governance vacuum isn't just an internal headache. There are real concerns about contracts and financial decisions that could be affected…
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Even with all this going on, Ondo made a significant hire. Adam Schlisman, a former Blockchain.com executive, came on as the company's new chief financial officer.
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Ondo's board, for its part, put out a statement reaffirming its commitment to the founder's vision.
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See also: Jim Cramer Dumps Bitcoin After IBM CEO Warns of 3-Year Quantum Threat Window
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