From Crypto Winter to Real Estate Tech—Zac Prince's Next Act

After BlockFi’s tumultuous bankruptcy journey, one of crypto’s most visible entrepreneurs is turning the page entirely. Zac Prince, who built BlockFi from the ground up and guided it through its near-death experience with FTX, has officially departed from the industry to pursue an opportunity in real estate technology. His move signals a broader story about how crypto leaders are redistributing their talents across traditional finance and how even the most committed believers might seek calmer waters.

Why a Crypto Pioneer Left the Space

In a candid conversation with CoinDesk, Zac Prince revealed that he initially considered launching another crypto venture. “I considered starting another crypto company after my time at BlockFi. I’m passionate about the space and believe in it as much as when I started BlockFi,” he explained. But personal circumstances shifted his trajectory. His wife’s pragmatic advice—that the industry’s inherent “craziness and volatility” might not be sustainable long-term—led him to explore less turbulent horizons.

This introspection landed Prince at Re Cost Seg, a real estate technology platform focused on democratizing access to cost segregation studies. These specialized analyses allow property owners to accelerate depreciation schedules and achieve significant tax savings. Historically, such services were restricted to large institutional landlords due to cost barriers. Re Cost Seg’s mission targets the underserved “Mom and Pop” segment, which represents approximately 70% of U.S. residential rental owners according to the National Association of Realtors.

“This company is democratizing access to these cost segregation studies,” Prince noted, drawing a parallel to BlockFi’s original value proposition: enabling tax-efficient strategies around financial assets. “Our products will save money on taxes like nobody wants to pay more taxes. Everybody loves saving money on taxes.”

Transplanting Crypto Lessons to Traditional Finance

What makes Zac Prince’s transition particularly intriguing is his determination to import the operational playbook he refined during BlockFi’s rapid expansion. During its most successful period, BlockFi built four consumer products and an institutional platform in under five years—a development velocity that feels almost foreign to traditional fintech.

Prince credits BlockFi’s customer-first approach as a competitive advantage worth replicating. “We were the first company in the crypto lending category to have a phone number that people could call,” he reflected, emphasizing the importance of accessible customer support. This seemingly basic principle proved differentiating in an industry often criticized for poor user experience.

The marketing lessons learned during crypto’s frenzied media environment are equally transferable. “In crypto, the 24/7 media cycle is unique, so learning to navigate that and developing strategies like partnering with big podcasters, was key,” Prince explained. These guerrilla-style marketing tactics could accelerate Re Cost Seg’s growth trajectory in the traditionally slower real estate market.

Perhaps most valuable is the talent recruitment and team-building methodology Prince developed. “I learned a lot about team building; we had a phenomenal team at BlockFi, many of whom are staying in the crypto industry, and some have even started new crypto companies, which makes me proud.” This culture of excellence and entrepreneurship is precisely what early-stage companies need.

BlockFi’s Recovery and Zac Prince’s Symbolic Commitment

Despite his exit, Zac Prince has made an extraordinary personal gesture that underscores his commitment to BlockFi’s mission. All of his cryptocurrency holdings remain locked within the platform, and he has voluntarily waived any recovery rights until every BlockFi client achieves full restitution.

“As part of our bankruptcy process, I always kept all of my crypto at BlockFi. I said I’d give up any recovery rights to my crypto until BlockFi clients get 100% back,” he stated. This stance reflects his conviction in the legal proceedings and his prioritization of user outcomes above personal financial recovery.

The FTX connection that precipitated BlockFi’s collapse is now historical. FTX and its sister company Alameda Research had borrowed funds from BlockFi—fully disclosed in the original terms—and failed to repay them. When BlockFi filed for bankruptcy, FTX’s legal team initially adopted a hostile posture, claiming BlockFi owed them money rather than the reverse. This was particularly galling given the circumstances.

The resolution has vindicated BlockFi’s position substantially. By early 2024, BlockFi reached a comprehensive settlement with the estates of both FTX and Alameda, enabling a full recovery trajectory for affected users—a stunning reversal from the dark days of crypto winter in early 2023, when bankruptcy claims were trading at just 30 cents on the dollar. “The people that bought the bankruptcy claims made a killing,” Prince noted, reflecting on how the resolution validated those who maintained faith in BlockFi’s legal position.

Zac Prince’s participation in Sam Bankman-Fried’s trial further reinforced the factual record. His testimony helped establish the chain of events and contributed to the guilty verdict that concluded the case, though his focus remained steadfastly on client recoveries rather than vindication.

What Remains for BlockFi and Crypto’s Next Generation

Zac Prince’s departure marks a symbolic closing of an era. He built BlockFi during crypto’s expansion, navigated it through its most severe crisis, and is now handing the reins to others while moving forward himself. His commitment to maintaining his personal holdings within BlockFi until full recovery speaks to his character and belief in the institution.

The crypto industry will continue evolving, but Zac Prince has chosen to invest his remaining career capital in a different frontier—one that applies hard-earned lessons about speed, customer experience, and team building to an older, larger industry. Whether this represents a broader pattern of talent migration from crypto to traditional finance remains to be seen, but his move certainly suggests that even the most resilient builders sometimes seek new challenges beyond the industry that made their name.