As per recent reports, the CFO of OpenSea, Brian Roberts, has quit the company. He was the company’s first finance worker and built the company’s finance team from the ground level. According to a LinkedIn update posted this Friday on his account, it was identified that he had left the company less than a year after joining, which is very much surprising.
CEOs and CFOs are leaving the crypto and NFT firms
As per Robert’s LinkedIn update, he joined the NFT marketplace company last year in December as the first finance worker of the company. He built the finance team from the ground level. However, due to several reasons, he quit the company but will be staying as an advisor to the company.
According to several reports, the departure of Robert came amid something of the crypto industry exodus. Many other people, aside from Robert, also left the crypto firm in recent weeks. Earlier this week, it was reported that Mr. Cheesman, the FTX’s head of OTC, and the institutional sale left the firm. Last month, FTX.US president Mr. Harrison also stepped down from his advisory role in the company. Over the last few months, it has been seen that many people are quitting their company, mainly if it’s a crypto firm or an NFT-related company which is not a good thing.
Reasons behind the CEO and CFO departures
Reasons behind quitting the company may vary from one person to another. However, one common thing is that they all come amid difficult market conditions. As you know, the price of the biggest cryptocurrency, bitcoin, has declined more than 60 percent from last year’s November all-time high of nearly 69,000 USD to just around 19,500 USD today.
As you know, the CFO of OpenSea, Brian Roberts, has quit the company. This was mainly because of the sharp downfall in the NFT trading volumes in the past few months. Last month, it nearly dropped around 18 percent in trading volume on different ETH-based NFT marketplaces, which is not a good thing at all.
What are your thoughts on Brian Robert’s as no longer the CFO of OpenSea? Do you really think that current market conditions are forcing CEOs to leave their firms? Let us know in the comments below. And if you found our content informative, share it with your family and friends.