OpenSea hit in ongoing crypto exec exodus as CFO resigns

OpenSea hit in ongoing crypto exec exodus as CFO resigns

The past few months in the cryptocurrency industry have been marked with a disturbing number of executive resignations, and OpenSea has just become the latest firm caught in the wave.

OpenSea’s CFO resigns

The Chief Financial Officer (CFO) at OpenSea, Brian Roberts, has stepped down from his position in the NFT marketplace. Roberts joined OpenSea in December 2021, marking ten months of active service in leading and growing the finance team at the largest NFT marketplace. 

Well it is time for me to come ashore from the “open seas.” I’m grateful for the opportunity and proud of many accomplishments but none more than the strength of the finance team at OpenSea.”

Brian Roberts.

Although Roberts ceases to become OpenSea’s CFO, he intends to assume an advisory role at the NFT marketplace. The current Vice President of Finance, Justin Jow, will reportedly take over the wheel as Chief Financial Officer. 

“I remain incredibly bullish on web3 and especially OpenSea. The company is heads down building and I assure you, the best is yet to come,” Roberts added.

Crypto bear market forces more exec departure

Roberts’ departure comes as OpenSea records a significant decrease in market interest and trading volume. According to DappRadar, OpenSea’s monthly volume is currently over 7% to $245 million. Additionally, the number of unique wallet addresses interacting with the protocol has also declined by 4.12% to 258.23k. 

Generally, interest in NFTs and cryptocurrencies are currently down owing to the bear market and uncertainties around the global economy. Amidst these events, many cryptocurrency companies have seen their executives resign, including Algorand, Alameda Research, Kraken, Celsius, etc. 

In late September, the President of FTX.US Brett Harrison announced his resignation 18 months after joining the exchange. Similar to Roberts, Harrison intends to stay at the exchange as an advisor. 

Ibiam Wayas

Ibiam Wayas

Ibiam is an optimistic crypto journalist. Five years from now, he sees himself establishing a unique crypto media outlet that will breach the gap between the crypto world and the general public. He loves to associate with like-minded individuals and collaborate with them on similar projects. He spends much of his time honing his writing and critical thinking skills.

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