SALT Talks

Zac Prince: What is Crypto Lending? | SALT Talks #233


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Zac Prince is the Chief Executive Officer of BlockFi. Founded in 2017, BlockFi provides trade execution services for institutions and opportunities for retail investors to earn a yield on their bitcoin holdings. In January 2018, BlockFi launched its first product: USD loans backed by cryptocurrency for cryptocurrency holders allowing them to offer their bitcoin, ether or litecoin assets as collateral for a loan. In 2019, BlockFi launched its second major product to retail customers, a crypto-funded interest account. With this account, customers deposit bitcoin, ether or litecoin with the company for the assets to accumulate cumulative interest every month. BlockFi has previously advertised 6.2% annual interest, compounded monthly. The firm has $10 billion in outstanding loans, $15 billion in total assets and has been operating profitably for several months.

Prior to starting BlockFi, he led business development teams at Orchard Platform, a broker dealer and RIA in the online lending sector, and Zibby, an online consumer lender. He graduated Cum Laude from Texas State University with a BA in International Business and minor in Spanish.

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Registration for SALT New York is now open! Join us September 13-15, 2021 and sign up at https://register.salt.org/event/411f76d9-c215-4719-9bc4-8dfac6cfacdd/summary

For podcast transcripts and show notes, visit https://www.salt.org/

Watch this video on YouTube: https://youtu.be/-3RA72CIki0

Moderated by Anthony Scaramucci. Developed, created and produced by SALT Venture Group, LLC. 

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