The CFO of OpenSea has resigned less than a year after joining the company

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Last Updated on October 9, 2022 by Bitfinsider

According to an update that Brian Roberts placed on his LinkedIn profile on Friday, he has resigned from his position as chief financial officer at OpenSea, less than a year after he started working there.

According to Roberts’s most recent LinkedIn post, he recently joined OpenSea as the company’s first financial employee and established the finance team from the ground up after serving as the Chief Financial Officer at the ride-sharing behemoth Lyft. He is going to continue working for the corporation in the capacity of an advisor.

The departure of Roberts comes at a time when the cryptocurrency business is seeing somewhat of a brain drain. Over the past few weeks, several executives have left cryptocurrency organizations. The Block published an article earlier in the week stating that Jonathan Cheesman, the head of OTC and institutional sales at FTX, had mysteriously quit the company. The previous month saw the transition of FTX.US president Brett Harrison to a more advising position. During the same month, former CEO of Kraken Jesse Powell stepped down to make room for David Ripley, who will now serve in that capacity. Robert Gutmann, Chief Executive Officer of Bitcoin investment services provider NYDIG, and Yan Zhao, President of the Company, Both Left the Company Last Week.

Although the reasons underlying the decisions could be different, they have all been made in response to the challenging market conditions. From its all-time high of over $69,000 in November of last year, Bitcoin’s price has dropped by more than 70% to its current level of approximately $19,500.

Trading volumes in NFT have also significantly decreased during the past few months. According to data provided by The Block Research, the amount of money that was traded on Ethereum-based NFT platforms decreased by almost 18% to $504 million in the most recent month.

The previous month showed a reduction in volumes of more than thirty percent for OpenSea, which is the largest NFT marketplace. In an update that he posted on LinkedIn, Roberts stated that he continued to be “very positive on web3 and especially OpenSea.”

In addition, he stated that “the company is heads down building,” and that “I guarantee you, the best is yet to come.”

The company OpenSea has received funding from notable investors such as Paradigm and Coatue. In the beginning of this year, the business completed a Series C investment round and received $300 million at a valuation of $13.3 billion. OpenSea completed the acquisition of crypto wallet manufacturer Dharma Labs not long after the fundraise, and in April of this year, it completed the acquisition of NFT aggregator Gem.

Roberts stated on his LinkedIn page that he assisted OpenSea in successfully closing the two acquisitions as well as the financing.

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