From Crypto to Real Estate: How Zac Prince Transitions Beyond BlockFi

Zac Prince, the founder of BlockFi, is closing an important chapter in his cryptocurrency career and opening a new one in real estate technology. After years building one of crypto’s most recognizable lending platforms, Prince is joining Re Cost Seg, a startup focused on making cost segregation services accessible to smaller real estate investors. This move marks a significant shift in his professional trajectory and offers insights into how industry veterans are adapting to changing circumstances.

The decision to pivot away from cryptocurrency didn’t come easily. Prince acknowledged that he seriously considered starting another crypto company, given his deep belief in the sector. “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. However, personal circumstances and practical considerations influenced his final decision to explore opportunities outside the industry. His wife’s perspective on the crypto industry’s volatility proved decisive, pushing him toward what he describes as a “less high-octane” professional environment.

Opening Doors in Real Estate Tech

What initially drew Zac Prince to Re Cost Seg was an opportunity that appeared unexpectedly on X. The startup operates in a space that mirrors BlockFi’s original mission in interesting ways: democratizing access to financial services that were previously available only to large institutional players. Re Cost Seg provides cost segregation studies for real estate investors, enabling property owners to accelerate depreciation schedules and reduce tax liabilities. Traditionally, these specialized services carried high price tags, putting them out of reach for the approximately 70% of residential rental owners classified as “Mom and Pop” landlords, according to data from the National Association of Realtors.

“This company is democratizing access to these cost segregation studies,” Zac Prince noted, drawing parallels to his crypto lending experience. “Our products will save you money on taxes—and nobody wants to pay more taxes. Everyone loves saving money on taxes.” The fundamental mission resonated with his prior work: creating tax-efficient financial products that served underserved market segments.

Bridging Crypto Expertise and Traditional Finance

Prince sees significant opportunities to apply hard-earned lessons from his BlockFi experience to the real estate technology space. During his tenure at BlockFi, the company distinguished itself partly through exceptional customer service—it was among the first crypto lending platforms to maintain a dedicated phone line for client support. He plans to bring this customer-focused philosophy to Re Cost Seg.

Beyond customer relations, Zac Prince emphasizes the operational agility that defines the cryptocurrency industry. “In five years, we launched four consumer-facing products and an institutional platform, along with internal tools and processes for efficient product development,” he reflected. This rapid iteration cycle, common in crypto but less typical in traditional finance, represents a competitive advantage that can be imported into the real estate tech sector. Prince also highlights how the unique characteristics of crypto marketing—particularly the relentless 24/7 news cycle—taught him strategies that extend beyond the industry, such as building relationships with influential podcasters and other media partners.

“I also 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,” he added. These relationships and the culture built at BlockFi serve as a foundation for his new venture.

The Unfinished Chapter: BlockFi’s Recovery

While Zac Prince has moved forward professionally, his commitment to BlockFi’s clients remains unwavering. He maintains all his personal cryptocurrency holdings on the BlockFi platform, pledging to forgo any recovery rights until all former clients have been made completely whole. “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.

The bankruptcy process itself was complex and contentious. BlockFi faced insolvency after FTX and its associated entities, which had received loans under fully transparent terms, failed to repay them. During his testimony at Sam Bankman-Fried’s trial, Prince outlined how these arrangements were disclosed in BlockFi’s terms and conditions. The legal battle that followed proved pivotal: FTX’s lawyers initially took an aggressive stance, claiming that BlockFi owed them money—a position Prince found absurd given the opposite was true. “It’s validating to see the outcome in BlockFi’s favor, and the impact on client recoveries is significant,” he remarked.

The recovery trajectory offers a remarkable turnaround narrative. In early 2023, during the depths of the crypto winter downturn, bankruptcy claims trading on the secondary market fetched approximately 30 cents on the dollar—a dramatic discount reflecting widespread pessimism about recovery prospects. “The people that bought the bankruptcy claims made a killing,” Prince concluded, noting that those with patience and conviction in the legal process were eventually vindicated.

Looking Forward: Lessons and Legacy

In a post discussing his departure from BlockFi, Zac Prince acknowledged that hindsight would suggest different decisions, with the company’s relationship with FTX standing as the most significant regret. Yet he framed the outcome as ultimately positive for stakeholders. “I testified at the SBF trial, which was helpful in terms of enabling justice through a guilty verdict, but 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 wrote.

His transition from BlockFi to Re Cost Seg illustrates a broader pattern in the cryptocurrency industry: even as core believers remain committed to crypto’s future, some successful founders are exploring adjacent opportunities where they can apply hard-won expertise in different contexts. For Zac Prince, this means channeling the lessons of building a fintech platform through boom and bust cycles into the more stable—if less dynamic—world of real estate finance.