Key Takeaways
- • Galaxy Digital (GLXY) hired Zac Prince as a managing director to expand its digital assets offering, according to an internal memo seen by CoinDesk.
- • Prince joins from real estate advisory firm RE Cost Seg, where he served as CEO for the past year.
- • Prince is the former CEO and co-founder of BlockFi, the crypto lender that went bankrupt, and will work closely with Galaxy President Chris Ferraro.
- • The hire follows Galaxy's December appointment of former Point72 CFO Anthony Paquette as its CFO, signaling a build-out of senior leadership.
Summary
Galaxy Digital, the crypto investment firm founded by former Fortress Investment Group president Michael Novogratz, has hired Zac Prince as a managing director, according to an internal memo seen by CoinDesk. Prince will work closely with Galaxy's President, Chris Ferraro, to expand the company's digital assets offering. In the memo, Galaxy said crypto is entering a "pivotal era of transformation" and that it hired Prince to help deliver the firm's strategic vision.
Prince comes to Galaxy from real estate advisory firm RE Cost Seg, where he was employed as CEO for the last year. He is best known in the industry as the former CEO and co-founder of BlockFi, the crypto lender that failed and went bankrupt. His BlockFi tenure is a notable part of his profile given the firm's collapse. Publisher context indicates Galaxy had earlier been an early investor in BlockFi, which gave Prince a prior relationship with Novogratz.
The appointment follows Galaxy's December announcement that it had hired former Point72 chief financial officer Anthony Paquette in the same CFO role at the crypto financial services firm. Publisher context also notes that Galaxy had hired Prince earlier in the year to oversee GalaxyOne, a product that allows users to earn yield on cash deposits and trade digital assets.
Prince comes to Galaxy from real estate advisory firm RE Cost Seg, where he was employed as CEO for the last year. He is best known in the industry as the former CEO and co-founder of BlockFi, the crypto lender that failed and went bankrupt. His BlockFi tenure is a notable part of his profile given the firm's collapse. Publisher context indicates Galaxy had earlier been an early investor in BlockFi, which gave Prince a prior relationship with Novogratz.
The appointment follows Galaxy's December announcement that it had hired former Point72 chief financial officer Anthony Paquette in the same CFO role at the crypto financial services firm. Publisher context also notes that Galaxy had hired Prince earlier in the year to oversee GalaxyOne, a product that allows users to earn yield on cash deposits and trade digital assets.
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