Ondo Finance Co-founder Faces Conservatorship Lawsuit Amid Health Concerns

Ondo Finance is facing internal management instability following a lawsuit filed by family members against co-founder Kathleen Allman. The legal filing in Hawaii seeks a limited conservatorship, alleging that the 77-year-old co-founder suffers from cognitive impairments, including Alzheimer's disease, as well as pathological alcoholism and excessive spending. The plaintiffs claim Allman is no longer capable of managing her significant equity and token holdings in the company. These allegations have introduced new legal and governance challenges for the firm as it navigates a critical leadership transition.