OndoFinance (ONDO) Surge

Ondo Finance (ONDO) surged over 14% in 24 hours, becoming the top performer among the top 100 cryptocurrencies. The rally was driven by significant whale accumulation, including a $61 million ONDO purchase from a Coinbase Prime wallet, and a quadrupling of perpetual futures volume to $155 million. Technically, ONDO has broken out of a multi-month triangle pattern and is forming a potential higher low around $0.34, with indicators like the MACD and RSI supporting bullish momentum. Key resistance levels are at $0.40, $0.44, and $0.48. The strong institutional buying suggests potential for further upside, though a failure to break resistance could see a retracement to $0.34 or $0.30.

Ondo Finance, a major RWA (Real World Assets) issuer, is considering a significant acquisition in the $250 million to $500 million range, according to a CoinDesk report. This potential deal could rank among the largest in the asset tokenization sector. While the New York-based company is reportedly evaluating acquisition targets, particularly in the wealthtech space, it has not yet engaged formal financial advisors. A company spokesperson stated Ondo regularly assesses the market but is not currently in negotiations with any party. Founded in 2021 by ex-Goldman Sachs employees, Ondo has grown to hold nearly $3.5 billion in total value locked, making it a leading RWA platform. The company also aims to bridge traditional finance and blockchain, having confidentially filed with the SEC to become the first U.S.-regulated issuer of tokenized equities. The report notes the crypto industry saw robust M&A activity in early 2026, with deals valued at $12.9 billion in Q2, focusing on tokenization infrastructure, stablecoins, and custodial services. Recent major transactions include Kraken's $550 million purchase of Bitnomial and Bullish's $4.2 billion acquisition of Equiniti.

RWA Weekly: European Banks Form Tokenized Asset Cooperative; Ondo Launches New Execution Network Ondo Network Covering July 24-31, 2026, the RWA sector saw a steady on-chain total value locked (TVL) of $36.8 billion, with holder count hitting a record high. However, stablecoin transfer volumes fell sharply (~30%), indicating low on-chain settlement demand. Key regulatory moves include South Korea advancing stablecoin legislation and a push to scrap crypto taxes, Kenya lowering capital requirements for stablecoin issuers, and Zimbabwe approving seven projects for its crypto sandbox. In project developments, BIS-led Project Agorá successfully tested cross-border payments with tokenized funds across six currencies. Ten major European financial institutions formed the RL1 blockchain cooperative to build tokenized asset infrastructure. Other notable updates: Aviva launched a tokenized dollar liquidity fund on XRPL, POSCO International tokenized commercial invoices on Injective, and a Brazilian farmer used tokenized cattle as collateral for a loan. Additional progress includes BNY Mellon migrating its core transfer agent operations to blockchain, Securitize gaining SEC investment advisor registration, and Tether’s compliant stablecoin USA₮ launching on Celo. Ondo Finance introduced Ondo Network, a new execution layer focused on speed and privacy, moving away from its initial chain plans. An analysis highlights that despite the growing scale of on-chain RWAs (~$32B), approximately 90% remain underutilized in DeFi, pointing to a critical challenge in unlocking liquidity and fostering real-world application beyond mere issuance.

The mother of Ondo Finance's late founder, Nathan Allman, has sued the company's current CEO in Delaware Chancery Court over a legal dispute for control. Following Allman's death in May, which left the tokenization firm without a CEO or board director, a power struggle emerged. His mother, Kathleen Allman, was appointed estate administrator and gained voting rights to his shares. She alleges that former president Ian De Bode improperly declared himself CEO and sole director during the inheritance process, actions she claims are invalid under the company's charter as there was no board to appoint a CEO. De Bode has called the claims "baseless." The lawsuit seeks a judicial determination of legitimate control, casting uncertainty over corporate actions. Despite the dispute, Ondo states it remains focused on operations and has appointed a new CFO. The news triggered a roughly 6% drop in ONDO's token price, compounding a significant decline from its 2024 peak.

In a major expansion of the Real-World Asset (RWA) sector, the CeDeFi exchange Grvt has announced a partnership with RWA issuer Ondo Finance. Grvt plans to build a $100 million position in Ondo's tokenized U.S. Treasury product, $USDY, over the next year. This investment will back the yield for users of Grvt Earn, offering a combined APY of 3.5%. The move positions tokenized treasuries as a core infrastructure layer for DeFi platforms. Simultaneously, Coinbase is expanding its RWA footprint internationally, announcing a new tokenization hub in Abu Dhabi, UAE, following regulatory approval. This hub will focus on offering digital securities backed by traditional equities. The establishment in Abu Dhabi, alongside Coinbase's existing derivatives business in Dubai, gives the company dual bases in the UAE for global expansion beyond the U.S. market. These developments highlight the growing trend of major crypto institutions integrating tokenized traditional assets to provide yield and bridge traditional finance with blockchain-based markets.