The former CEO of BlockFi, Zac Prince, is embarking on a new adventure as he transitions from the volatile world of cryptocurrency to the more stable realm of real estate technology. Following BlockFi’s settlement with the estates of FTX and Alameda Research, which could potentially result in a full recovery for the crypto lender’s users, Prince has decided to leave both BlockFi and the crypto industry behind.
Zac Prince Leaves Crypto Industry: A New Journey in Real Estate Technology
Prince’s next move is to join a real estate tech startup called Re Cost Seg, where he will be an essential part of the company’s leadership team. His decision to leave the crypto space was influenced by his wife’s advice to pursue a less tumultuous career path. Nevertheless, Prince remains deeply passionate about the crypto industry and its capacity for innovation.
From Crypto to Cost Segregation Studies: Similarities in Mission
One aspect of Re Cost Seg that resonates strongly with Prince is the company’s dedication to making cost segregation studies accessible to smaller-scale landlords, not just large institutional investors. This mission mirrors his former firm’s efforts to democratize access to financial services within the crypto space.
Invaluable Lessons and Future Endeavors
Although he is leaving BlockFi, Prince remains committed to ensuring that all of the firm’s former clients are made whole. He has pledged to keep his crypto assets on the platform until every client has been compensated. Prince explains that BlockFi’s bankruptcy was a result of loans extended to FTX and its affiliates, which were not repaid. However, BlockFi ultimately prevailed in the legal proceedings, securing a favorable outcome for its clients.
Prince expresses pride in the resilience of BlockFi’s team and their unwavering dedication to serving clients during challenging times. Looking ahead, Prince sees opportunities to apply the lessons he learned at BlockFi to his new venture at Re Cost Seg. He intends to leverage his experience in fast-paced product development and innovative marketing strategies honed during his time in the crypto industry.
Optimism Amid Challenges: The Future of Crypto and Real Estate
Despite the challenges faced by BlockFi during the crypto winter, Prince remains optimistic about the future of both the crypto and real estate sectors. He acknowledges the potential for growth in each industry and looks forward to applying his expertise to help Re Cost Seg achieve its mission.
Prince’s transition from the crypto industry to real estate technology marks a new chapter in his career. His decision to join Re Cost Seg reflects his belief in the company’s commitment to democratizing access to cost segregation studies, as well as the valuable insights and skills he gained during his time at BlockFi.
