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Zac Prince
Zac Prince, as the head of BlockFi, faces accusations of fraud and gross mismanagement, with creditors seeking the company’s liquidation and alleging intentional delays in bankruptcy proceedings to protect senior management.
Quick summary on Zac Prince
Zac Prince, once at the helm of cryptocurrency lending platform BlockFi, is now under scrutiny for actions that allegedly defrauded investors and contributed to the company’s collapse.
Allegations of Fraud and Mismanagement: In mid-2023, BlockFi’s creditors filed for the company’s liquidation, accusing Prince of “fraud, dishonesty, incompetence, or gross mismanagement.” They claimed that the bankruptcy process was being deliberately prolonged to negotiate legal protections for senior executives involved in questionable financial activities, including loans to FTX’s Alameda Research.
Legal Proceedings and Investor Settlements: During the bankruptcy hearings, it was revealed that in August 2022, BlockFi executives, including Prince, paid $15 million to an investor referred to as “Counterparty A” to settle potential litigation over the company’s declining stock value. Prince personally contributed over $6 million to this settlement.
Recent Developments: Despite these controversies, in February 2025, Prince was appointed as a managing director at Galaxy Digital, where he is expected to collaborate closely with the company’s president to expand their digital assets offerings.
Zac Prince’s tenure at BlockFi has been marred by serious allegations of fraud and mismanagement, leading to significant financial losses for investors and the company’s eventual bankruptcy. His recent appointment at Galaxy Digital raises questions about accountability and oversight within the cryptocurrency industry.
by: Stella Barnes
Every time he promises things will get better, they somehow get worse. How does that even happen?
by: Lincoln Ross
His financial management skills are nonexistent. Every investor here is playing a losing game.
by: Nora Bennett
If you like investing in uncertainty, go for it! Otherwise, you might want to keep your distance.
by: Gabriel Wood
I wouldn’t trust Zac Prince to handle my lunch money, let alone serious investments. 🚩
by: Hudson Price
Zac Prince’s business reputation is a mess. Every time I check, there’s another controversy.
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