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OpenSea CFO departs after 10 months in the job

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CFO Non-Fungible Token (NFT) Brian Roberts of marketplace OpenSea has become the latest high-profile Web3 executive to step down from that position after just 10 months, amid the current bear market.

October 7 Position On LinkedIn, the former chief financial officer of ridesharing platforms Lyft and OpenSea said it was time to “land” off the “high seas,” but did not give an exact reason for the change, saying the company will continue to do so. remain an advisor to

Roberts was appointed Chief Financial Officer in December 2021 after seven years at Lyft. He has also held corporate roles at US retail giant Walmart and his technology company Mircosoft.

Roberts was one of the longtime tech veterans. Who jumped to Web3 Over the past few years, including Google’s former VP Surojit Chatterjee, who became Coinbase’s chief product officer in 2020, and Amazon’s Pravjit Tiwana, who became Gemini’s chief technology officer in January 2022.

One of his primary responsibilities at OpenSea was growing the finance team. Roberts said in a Linkedin post:

“We had the rare opportunity to literally build a team from scratch and handpick game changers.”

He said in a statement that he was working closely with CEO Devin Finzer and vice president of strategic finance Justin Jow to ensure a “smooth transition,” possibly with Jow newly vacant. suggesting that he take over the leadership position.

Despite leaving the role of chief financial officer, Roberts still claims to be “incredibly bullish on web3.”

Notably, Roberts’ resignation came on the same day another OpenSea executive announced his resignation.

In a LinkedIn post on October 7, Ryan Foutty, OpenSea’s vice president of business development, said: announced Left the company after 18 months.

Foutty said the company has come a long way since working in co-founder Alex Atallah’s basement, and wishes his “friends” all the best.

Related: OpenSea Allows Users To Submit Mass NFT Listings And Purchases

Both Roberts and Fouty are just the latest crypto executives to step away from their current roles during the market downturn.

NFT trading volume plummeted from 98% to The $6.2 billion witnessed towards the end of January became $114.4 million.

NFT marketplaces have also experienced setbacks, including cutbacks. 20% of staff in July and important Plunge in daily trading Volume.

The entire market plummeted off a cliff in May as the ongoing crypto bear market kicked off.

Other prominent executives who have announced retirements include FTX US President Brett Harrison, Kraken CEO Jesse Powell, MicroStrategy CEO Michael Thaler, Genesis Trading CEO Michael Moro.

Update: Corrected number of months Brian Roberts was Chief Financial Officer at OpenSea.