When BlockFi co-founder Zac Prince suffered online attacks alleging that his firm could have lost $232 million from a reversal in an arbitrage play between the price of bitcoin and a premium to net asset value for the Grayscale Bitcoin Trust, he knew what to do.
Rather than issuing a formal rebuttal of the allegations, Prince instead made appearances on bitcoin podcasts where he could be confident of a friendly reception. Prince’s firm is a sponsor of one of the podcasts, something that should inspire confidence in any guest.
Prince isn’t just hoping to profit from holding bitcoin, however. He is trying to build a financial services business that will “redefine banking” by moving beyond its core crypto lending activity.
Prince isn’t just hoping to profit from holding bitcoin… He is trying to build a financial services business that will ‘redefine banking’