Galaxy exec Zac Prince lends again while BlockFi victims await payouts

BlockFi founder Zac Prince has announced a new crypto loan program to attract more assets with promises of interest-only loans, waived origination fees, and other promotional offers.

Meanwhile, members of a BlockFi class action who secured a court-ordered payout in their lawsuit against Prince, still haven’t actually received any money from that $13.25 million settlement.

Prince was a defendant in this litigation, settling allegations that he violated US securities laws by selling BlockFi Interest Accounts without adequate disclosures.

A judge has ordered that insurance companies backing him and his executive team at BlockFi must pay $13.25 million for this class of BlockFi customers.

Today, anyone who decides to trust Prince’s new product, a so-called “crypto portfolio line of credit” by GalaxyOne, are able to entrust as many digital assets with Prince’s new employer as they desire.

Eager to amass as much capital as possible, Galaxy is extending customers fee waivers and interest-only payment options to make sure depositors can maximize their financial leverage.

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