OpenSea CFO Exits Role In Another Crypto Shake-Up

Brian Roberts, the chief financial officer of NFT marketplace OpenSea, is the most prominent Web3 executive to leave their position amid the current bear market, going after only ten months. After seven years at Lyft, Roberts joined as the OpenSea CFO in December 2021. Roberts was one of many seasoned tech professionals who switched to Web3 over the past few years. OpenSea CFO Exits One of his core responsibilities during his time at OpenSea was to grow the finance team. In his Linkedin post, Roberts noted, “I had the rare opportunity to build a team literally from the ground up and handpicked game changers.” To ensure a “smooth transition,” he has reportedly worked closely with CEO Devin Finzer and VP of Strategic Finance Justin Jow. It presumably implies that Jow would step up and assume the suddenly vacated CFO position. Despite leaving the CFO position, Roberts claimed to remain “extremely enthusiastic about Web3.” NFT Market Conditions Another OpenSea executive resigned the same day Roberts left. Roberts and Foutty are just the most recent cryptocurrency executives to leave their positions amid the market slump. The volume of NFT trading has decreased 98% from the $6.2 billion seen at the end of January to just $114.4 million. The NFT market has also seen difficulties, including a 20% workforce reduction in July and sharp drops in daily trading volume. With the onset of an ongoing crypto bear market in May, the entire mar...