OpenSea's new CFO leaves the company while the IPO plan is still unfinished

NFT Marketplace OpenSea's CFO, Brian Roberts, left the company less than a year after joining.

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The new CFO of OpenSea leaves the company when the IPO plan is "unfinished"

Brian Roberts – Former CFO at vehicle technology giant Lyft, joined OpenSea in December 2021 at the time OpenSea announced plans to hold an IPO instead of a token issue, as CFO of the company, building the core finance team for OpenSea to deliver on this ambition.

The news of Brian Roberts' departure is based on his LinkedIn update, though he will continue to serve as a consultant at the company. However, on his personal Twitter as of the time of writing, Brian Roberts has not removed his personal status as CFO at OpenSea.

Brian Roberts' departure comes amid an increasingly dense migration wave of many of the crypto industry's top leaders.

The reasons behind these moves may vary, but they all come at a time when the crypto market is in a severe downturn. As for OpenSea, this is the third consecutive loss of personnel to the platform in just the last two months, following the decision to cut 20% of staff and co-founder Alex Atallah's resignation to focus on new projects.

Regarding the field in which OpenSea is operating, the NFT transaction volume has also decreased sharply in the past time, causing the transaction volume on OpenSea to record a deep decrease, of more than 30% in September 2022.

OpenSea is backed by hugely popular investment funds, including Paradigm and Coatue. Earlier this year, the company raised $300 million at a valuation of $13.3 billion. Immediately after the fundraising round, in order to expand its business and strengthen its position in the market, OpenSea acquired – a market-leading NFT aggregator solution in addition to setting up its own investment fund. incubating the NFT ecosystem called OpenSea Ventures.

FoxCryptoNews summary

Oct 10, 2022

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