BlockFi co-founder Flori Gilroy hired to lead revamped SoFi crypto unit

A co-founder of the defunct crypto lending business BlockFi has made her next move. 

Flori Gilroy is now the senior vice president of SoFi’s crypto unit.

The new hire was quietly made official via an update to the masthead on SoFi’s website and confirmed by a source familiar with SoFi’s business operations. It’s unclear when Gilroy took on the new role.

Gilroy and SoFi did not immediately return requests for comment.

Gilroy went by Flori Marquez while helping run BlockFi. After the bankrupt lender’s other co-founder Zac Prince was scooped up by Galaxy, both of BlockFi’s co-founders have now returned to roles in the crypto industry.

Once a leading crypto lending business with a slew of prominent backers, BlockFi was caught in the fallout from Three Arrows Capital’s bankruptcy in 2022. FTX acquired the business for $240 million, but following the exchange’s collapse, BlockFi filed for bankruptcy itself. 

Read more: BlockFi’s bankruptcy proceedings ‘golden standard’ compared to FTX: Lawyers

The links between Gilroy and SoFi go back several years. The online bank and fintech company invested in BlockFi’s seed round in 2018.

SoFi is revamping its crypto services this year after suspending crypto trading in 2023 in the wake of new rules set by the Federal Reserve. 

In a late June press release, SoFi said global remittances and crypto investing are expected to launch later this year as the “first of many planned crypto and blockchain innovations” at the company.

Last week, the administrator overseeing BlockFi’s bankruptcy settled a lawsuit with the US Department of Justice involving the proposed transfer of some of BlockFi’s crypto to the government. BlockFi emerged from bankruptcy in October 2023.

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