How Zac Prince Is Bringing Crypto's Speed and Innovation to Real Estate Finance

Zac Prince, the founder of BlockFi, has made a surprising pivot away from the cryptocurrency industry—a space he co-built during the boom years—to join a real estate technology startup. His decision marks a significant departure from the high-velocity world of crypto, moving instead toward TradFi solutions that offer steadier growth potential and less volatility.

From Blockchain to Brick-and-Mortar: Why Zac Prince Chose TradFi Over Crypto

After the dust settled from BlockFi’s bankruptcy saga and its recent settlement with FTX and Alameda Research estates, Zac Prince faced a crossroads. The executive considered launching another cryptocurrency venture, acknowledging his genuine passion for blockchain technology and distributed finance. “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 shared in a recent interview.

However, personal considerations ultimately redirected his career trajectory. Prince’s wife advised against diving back into the unpredictable crypto space, citing its inherent turbulence and rapid market swings. Her counsel resonated with him: why return to an industry defined by extreme cycles when an opportunity existed elsewhere? This honest reflection led him to explore alternatives in more stable sectors.

The opportunity came via X, where Prince discovered Re Cost Seg, a fintech startup tackling tax optimization for real estate investors. The fit felt natural for someone with extensive experience building financial products in a capital-intensive industry.

Democratizing Tax Benefits: Re Cost Seg’s Mission for ‘Mom and Pop’ Landlords

Re Cost Seg specializes in cost segregation studies—a sophisticated financial strategy that allows property owners to accelerate depreciation schedules and substantially reduce tax liabilities. Historically, these premium services remained exclusive to large institutional investors due to high service costs, leaving individual and small-scale landlords without access.

According to data from the National Association of Realtors, approximately 70% of residential rental property owners fall into the “Mom and Pop” category—small operators that have been priced out of professional tax optimization services. Re Cost Seg’s core mission centers on expanding accessibility to these wealth-preserving strategies, bringing enterprise-grade tax planning within reach of middle-market investors.

Prince notes clear parallels between his previous work and this new mission. BlockFi also democratized access to financial products, enabling retail users to employ tax-efficient strategies using cryptocurrency proceeds. “Our products will save you money on taxes—and let’s face it, nobody wants to pay more taxes than necessary,” Prince explained, drawing a conceptual line between what BlockFi achieved in crypto and what Re Cost Seg aims to accomplish in real estate finance.

Five Years of Lessons: How BlockFi’s Playbook Applies to Real Estate Tech

Prince brings substantial operational expertise to his new role, reflecting on BlockFi’s approach to competitive advantage and market positioning. During his tenure, the company launched four consumer-facing products and an institutional trading platform, alongside developing internal infrastructure for rapid iteration—all within a five-year timeframe. This velocity of execution was enabled by the unique dynamics of the cryptocurrency industry’s 24/7 media environment and constant market evolution.

“In marketing, crypto is unique with its continuous news cycle,” Prince noted. “Learning to navigate that, plus developing strategies like partnering with major podcasters, was fundamental to our growth.” He’s determined to transplant this speed and agility into the TradFi real estate sector, where development cycles typically move considerably slower.

Beyond product velocity, Prince emphasizes lessons in customer experience. BlockFi distinguished itself in the early crypto lending market by providing customer support channels that competitors lacked. “We were the first company in the crypto lending category to have a phone number that people could actually call,” he recalled—a seemingly basic service that nonetheless represented a competitive differentiator at the time.

Team dynamics also shaped his perspective. “I learned a lot about team building,” Prince reflected. “We assembled a phenomenal team at BlockFi, many of whom remain active in crypto and some who have launched their own companies. That makes me proud.” He intends to bring this emphasis on talent development and organizational culture to Re Cost Seg.

Staying Committed: Zac Prince Holds His Crypto Until BlockFi Clients Are Whole

Despite his departure from BlockFi, Zac Prince maintains a significant personal commitment to the platform’s stakeholders. He has kept all his cryptocurrency holdings on BlockFi’s platform and relinquished his own recovery rights in the bankruptcy proceedings, prioritizing client compensation above his personal financial restoration.

“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 decision reflects his accountability for the circumstances that led to the lender’s collapse—circumstances that Prince argues stemmed directly from FTX and its affiliates’ failure to repay substantial borrowed funds.

The path to the recent settlement proved contentious. Attorneys representing FTX initially adopted an adversarial stance, claiming that BlockFi owed them money—an assertion Prince found groundless. “At the beginning of our bankruptcy, the lawyers for FTX took a hostile position, claiming BlockFi owed them money, which we found absurd since FTX and its affiliates owed us money,” he explained.

The resolution has vindicated BlockFi’s legal position and substantially improved client recovery prospects. In early 2023, during the depths of crypto winter, bankruptcy claims were trading at roughly 30 cents on the dollar—implying minimal recovery expectations. Investors who purchased distressed claims at those prices ultimately profited substantially when the settlement terms were finalized. For BlockFi’s original users, however, the near-complete recovery represents a remarkable turnaround from the darkest period of the industry downturn.

Prince remains reflective about BlockFi’s trajectory, acknowledging several decisions he would revisit in retrospect. The most consequential involved the company’s relationship with FTX. His testimony during Sam Bankman-Fried’s trial contributed to securing a conviction, but the true measure of success, from Prince’s perspective, remains returning maximum value to affected clients. “The real goal and focus for me (and the remaining BlockFi team) was and remains to return as much value to clients as possible,” he emphasized, underscoring his ongoing stake in the platform’s rehabilitation and stakeholder restoration.