TLDR
- Opendoor hired Lucas Matheson, former CEO of Coinbase Canada, as President starting December 22, 2025
- Christy Schwartz promoted from interim CFO to permanent CFO effective January 1, 2026
- Matheson will explore blockchain and tokenization opportunities for homeownership
- OPEN stock is up 310% in 2025 but down 16% over the past month
- Company reported wider losses in Q3 with sales dropping 34% year-over-year
Opendoor Technologies Inc. (OPEN) announced two major leadership changes aimed at accelerating the company’s next growth phase. The moves come as the real estate technology company explores blockchain applications in housing.
Opendoor Technologies Inc., OPEN
Lucas Matheson will join Opendoor as President on December 22, 2025. He most recently served as CEO of Coinbase Canada and spent five years at Shopify.
During his time at Shopify, Matheson drove corporate finance, mergers and acquisitions, and strategic growth initiatives. His fintech background positions him to lead Opendoor’s emerging technology plans.
At Opendoor, Matheson will oversee Corporate Development and Financial Planning & Analysis. He will also manage emerging strategic initiatives, including evaluating blockchain and tokenization opportunities for transforming homeownership.
The appointment follows recent comments by Opendoor CEO Kaz Nejatian about the company’s tokenization plans. Nejatian responded to a post on X about the company’s direction in this area, though specific details remain limited.
CFO Search Ends With Internal Promotion
Christy Schwartz will officially become Chief Financial Officer on January 1, 2026. She has been serving as interim CFO during the company’s search process.
Opendoor conducted an extensive search, speaking with dozens of public-company CFOs across various industries. After reviewing external candidates, the company decided Schwartz was the best fit for the role.
“The best candidate was already at Opendoor,” the company stated in its announcement. The decision highlights confidence in Schwartz’s performance during her interim tenure.
The leadership changes come during a turbulent period for the company. OPEN stock has declined more than 16% over the past month despite strong gains earlier in the year.
Recent Financial Performance
Third-quarter sales dropped 34% year-over-year to $915 million. The company’s net loss widened to $90 million from $78 million in the same period last year.
Despite recent struggles, OPEN stock has gained 310% in 2025. The shares are up over 241% over the past 12 months, making it one of this season’s so-called “meme stocks.”
The Federal Reserve’s recent decision to cut the key borrowing rate by 25 basis points could benefit Opendoor. Lower lending rates typically boost home ownership and real estate activity.
The company operates in the iBuying space, where technology companies purchase homes directly from sellers. The business model has faced challenges as higher interest rates dampened housing market activity throughout 2023 and 2024.
Matheson’s experience in the crypto and fintech sectors could prove valuable as Opendoor explores blockchain applications. Tokenization would potentially allow fractional ownership of real estate assets or streamlined property transactions.
Both executive appointments take effect before the end of 2025. Matheson starts December 22, 2025, and Schwartz officially assumes the CFO role on January 1, 2026
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