Opensea Co-founder Stepped Down To Focus On Other Projects

The OpenSea co-founder Alex Atallah stepped from his position and will be leaving on good terms but will remain on the board of directors at OpenSea so let’s read more today in our latest cryptocurrency news today.

After a fulfilling tenure at OpenSea, the OpenSea co-founder Alex Atallah will be stepping down to focus on new ventures. He announced his decision on Twitter and shared his letter with the rest of the team. He claimed his decision to step down came from a desire to continue innovating in other places.

Some news: I’ll be stepping away from OpenSea next month, but remain on the board.

With a team in place that I trust & our new VP of Eng, @markoiskander, joining next week, I’m ready to build again from 0 to 1.

More in the update I shared with the team: https://t.co/WMZY2UruUo

— Alex Atallah (@xanderatallah) July 1, 2022

When OpenSea was a small company that ran on tight margins, Atallah assumed the leadership role in a few internal areas like community support, marketing, and business development. Such arrangements are common for companies that start out small since OpenSea could only boast a hundred collections but the growth of the company from a niche digital art gallery to a giant today, took three years and the responsibility of the platform was only getting bigger.

However, following the uptick in business starting in 2021, the NFTs enjoyed a steep rise in popularity so the company started looking for visionaries to assume leadership roles. Up until now, his support was needed in two key roles besides the main one as CTO. Following the onboarding of Marko Iskander, the new VP of Engineering, and the new CTO Nadav Hollander, Atallah was relieved from his responsibilities. He stated his intention to remain on the board of OpenSea in an advisory capacity and reiterated that he will be stepping down on a positive note while remaining on the board of directors. He said:

“OpenSea will always be a part of me. I couldn’t possibly stop thinking about the exciting problems we solve every day, even if I tried. Devin has done an incredible job stewarding OpenSea to heights we never predicted. And now that we have all of you, I know I can venture on – with full confidence that you’ll continue building and growing OpenSea in the right direction.”

Alex thanked the entire team for their continued efforts and announced that his last day will be on July 30^th.

As recently reported, OpenSea CEO Devin Finzer said that there were some suspicious NFT trades made by the former executive that was “misframed” as insider trading but today, the Department of Justice, the DOJ charged ex OpenSea Nate Chastain with insider trading.