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BlockFi Founder Prince Returns to Lead Galaxy’s Retail Push

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Galaxy Digital Inc. is courting everyday investors with a new banking platform that is being led by Zac Prince, the co-founder and former chief executive of BlockFi Inc., a retail-focused wealth management platform that filed for bankruptcy after the collapse of cryptocurrency exchange FTX.

BlockFi was one of many digital-asset firms that failed during the 2022 crypto crash. The company rose to prominence by offering BlockFi Interest Accounts promising as much as 9.5% returns by lending clients’ tokens to institutional borrowers, in addition to investing in equities and futures. Near its peak, BlockFi held roughly $14.7 billion worth of investor assets and counted nearly 400,000 US-based investors among its clients, according to a 2022 cease and desist order filed by the US Securities and Exchange Commission.

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