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The SEC has formally closed a confidential Biden-era investigation into Ondo — without any charges. The inquiry began in 2024, focused on whether Ondo’s tokenization of certain real-world assets complied with federal securities laws as well as whether the ONDO token was a security. The investigation came during a period of aggressive scrutiny of digital-asset firms, when Ondo’s rapid growth in tokenized Treasuries made it one of the earliest and most visible innovators in the category. Against this backdrop, Ondo never wavered from its core conviction: tokenizing some of the safest and most established assets in global finance, like U.S. Treasuries and publicly listed equities, can be both transformative and compliant. Yet this outcome is nevertheless an important milestone for the entire tokenization ecosystem. Regulators are shifting from enforcement-first approaches toward frameworks that support modernized market infrastructure. The SEC is openly engaging with industry to unlock the promise of tokenization for U.S. capital markets, global adoption continues to accelerate, and U.S. infrastructure is evolving to support the category, including through Ondo’s acquisition of Oasis Pro Markets. The path is now clearer than ever for tokenized Treasuries and tokenized equities to become core components of U.S. capital markets. The future of global finance will be onchain, and Ondo will help lead that transition. So what’s next? On February 3, 2026 in New York, we’ll share the next phase of our roadmap at the Ondo Summit, where we are bringing together leading regulators, policymakers, and executives across traditional finance to lay out our vision for the new era of onchain finance. Onwards

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