FTX Fallout Veteran Zac Prince Returns to Lead Galaxy Digital’s Banking Platform
In a remarkable comeback story that underscores the cryptocurrency industry's resilience, former BlockFi CEO Zac Prince has resurfaced as the leader of Galaxy Digital's newly launched banking platform, Galaxy One. This development marks Prince's return to a prominent leadership position less than three years after BlockFi's bankruptcy, which was directly triggered by the catastrophic collapse of FTX in 2022. The new platform, now operational, represents a significant evolution in crypto banking services, offering users the ability to earn yield on cash deposits while maintaining trading capabilities. Prince's appointment signals both his personal redemption arc and the industry's continued maturation, particularly noteworthy given his direct experience navigating the turbulent aftermath of FTX's downfall. Galaxy One's launch under Prince's guidance demonstrates how lessons from the FTX-era crises are being applied to build more robust, transparent financial infrastructure in the digital asset space. The platform's dual focus on traditional banking yield generation and crypto trading services suggests a strategic blending of conventional finance with digital asset innovation, potentially setting new standards for crypto-native banking solutions. This move also reflects Galaxy Digital's confidence in Prince's ability to lead despite his previous company's collapse, indicating that industry stakeholders recognize the unique insights gained from surviving the FTX contagion. As regulatory frameworks continue to evolve and the crypto market demonstrates renewed strength, Prince's leadership at Galaxy One represents an important milestone in the sector's recovery and ongoing transformation, showing how industry veterans are applying hard-won lessons to build more sustainable financial platforms.
Ex-BlockFi CEO Zac Prince Returns to Crypto Spotlight to Lead Galaxy Digital’s New Banking Platform
Zac Prince, the former CEO of collapsed crypto lender BlockFi, has re-emerged as the head of Galaxy Digital’s newly launched banking platform, Galaxy One. The move signals Prince’s return to a leadership role less than three years after BlockFi’s bankruptcy, which was triggered by the fallout from FTX’s collapse.
Galaxy One, now live, enables users to earn yield on cash deposits and trade both cryptocurrencies and traditional equities. Prince’s appointment underscores another push to bridge crypto services with mainstream finance—this time under stricter risk parameters. "My personal risk appetite is more conservative now," Prince told Bloomberg, contrasting Galaxy’s regulatory rigor with BlockFi’s turbulent past.
BlockFi, once a poster child for crypto’s high-yield lending boom, offered returns up to 9.5% before liquidity crumbled amid FTX’s implosion. Early backers included Peter Thiel’s Valar Ventures and Galaxy Digital, which led a $52.5 million funding round.
Crypto.com CEO Demands Probe Amid Historic $20 Billion Crypto Crash
Crypto.com CEO Kris Marszalek has called for an immediate regulatory investigation into major cryptocurrency exchanges following a record-breaking $20 billion liquidation event. The sell-off, which surpasses previous market collapses including FTX's demise, has raised concerns about exchange functionality during extreme volatility and the accuracy of trade execution prices.
Marszalek specifically urged scrutiny of whether exchanges experienced degraded performance during the crisis, potentially preventing users from executing trades. The CEO also emphasized the need to verify the operational status of anti-money laundering systems and trade monitoring protocols across platforms.
The unprecedented market movement has intensified pressure on regulators to examine exchange practices, with the scale of liquidations prompting serious questions about market stability mechanisms. While no specific coins were mentioned in the CEO's statement, the event impacted the broader cryptocurrency market.
