Ondo Finance
Summary
Ondo Finance is a real-world asset (RWA) tokenization protocol founded in 2021 by former Goldman Sachs executives Nathan Allman and Justin Schmidt. The platform offers tokenized exposure to U.S. Treasury securities (OUSG, USDY) and, since September 2025, a broader set of tokenized equities via Ondo Global Markets. The protocol held over $1.8 billion in TVL as of late 2025 and received formal notice in November 2025 that a two-year SEC investigation had been closed without charges.
Timeline(17 events)
2021-01-01
Ondo Finance founded by Nathan Allman and Justin Schmidt, both former Goldman Sachs digital assets executives.
IQ.wiki / TokenInsight2021-10-01
A smart contract bug caused incorrect token swaps in an early protocol version; no funds reportedly lost due to favorable market conditions post-swap.
4irelabs.com2022-04-27
Ondo Finance raised a $20 million Series A led by Founders Fund and Pantera Capital, with participation from Coinbase Ventures, Tiger Global, Wintermute, and GoldenTree.
CoinDesk2024-01-18
ONDO token generation event completed; token transfers enabled after a governance vote. Vesting for locked tokens began on this date.
Ondo Foundation Docs2023-10-01
SEC opened a confidential investigation into Ondo Finance, examining whether tokenized Treasury products and the ONDO token complied with U.S. securities laws.
CoinDesk / Yahoo Finance2025-01-18
1.94 billion ONDO tokens unlocked, increasing circulating supply by approximately 135% and triggering a sustained price decline.
Unchained Crypto / CryptoRank2025-02-06
Ondo Finance announced Ondo Chain, a permissioned EVM-compatible layer-1 blockchain for institutional RWA tokenization, at its inaugural New York summit.
CoinDesk / Business Wire2025-04-14
Quinn Thompson publicly alleged on X that Ondo Finance's TVL may be artificially inflated through team token sales recycled as protocol deposits.
DeFi Planet / Crypto.news2025-07-07
Ondo Finance announced agreement to acquire Oasis Pro, an SEC-registered broker-dealer, ATS, and transfer agent.
The Block2025-09-03
Ondo Global Markets launched, offering non-U.S. investors access to 100+ tokenized U.S. stocks and ETFs on Ethereum.
CoinDesk2025-10-07
Security researchers published documentation of crypto wallet drainer scam sites impersonating Ondo Finance (rewards-ondofinance[.]app and ondo-voting[.]com).
PCRisk2025-11-01
Ondo Finance received formal notice from the SEC that its two-year investigation had been closed without charges or enforcement action.
CoinDesk / Yahoo Finance2025-12-18
Ondo Finance submitted a confidential no-action letter request to the SEC regarding the Ondo Global Markets product operating on Ethereum Mainnet.
The Block / Crowdfund Insider2026-02-01
21Shares filed an amended S-1 with the SEC for a spot ONDO ETF targeting a Nasdaq listing, with Coinbase Custody as custodian.
The Block2026-04-13
Ondo Finance filed a public no-action letter request with the SEC, joined the DTCC tokenized securities consortium, and announced planned production trades within DTCC by July 2026.
The Block / Crypto Briefing / SEC.govThis investigation is cryptographically anchored to the Solana blockchain and source URLs are archived via the Internet Archive.
model: claude-sonnet-4-6
generated: 5/13/2026, 3:19:26 AM
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