Joe Kelly - How To Manage $11 Billion Worth Of Bitcoin? | Ep. 84

My guest today is Joe Kelly, co-founder and CEO of Unchained, a leading Bitcoin financial services company known for its collaborative custody model. A long-time entrepreneur and early Bitcoin adopter, Joe has built one of the most trusted platforms for secure key management, estate planning, and Bitcoin-backed lending. In this episode, Joe shares how his unconventional upbringing in Alaska and years living on a sailboat shaped his frontier mentality and entrepreneurial drive. We discuss why Unchained is Bitcoin-only, how multisig remains the gold standard for custody, and why legacy finance models are incompatible with Bitcoin’s ethos. Joe also breaks down the regulatory grey zones surrounding lending, inheritance, and self-custody, and offers a sober perspective on avoiding the next wave of over-leveraged failures. Above all, this is a conversation about designing resilient systems, building for longevity, and preserving individual sovereignty in a Bitcoin-native future.

► This episode is part of the "Bitcoin Vegas 2025 Special" in collaboration with Ben Samocha, Founder of Israel’s CryptoJungle and Crypto Talks podcast.

► If you got value, please like, comment, share, follow and support my work. Thank you!

-- SPONSORS & AFFILIATES --

►► Get your TREZOR wallet & accessories, with a 5% discount, using my code at checkout (get my discount code from the episode - yep, you’ll have to watch it): https://affil.trezor.io/SHUn
►► Get 10% off on Augmented NAC, with the code YCXKQDK2 via this link: https://store.augmentednac.com/?via=efrat (Note, this is not medical advice and you should consult your MD)
►► Watch “New Totalitarian Order” conference with Prof. Mattias Desmet & Efrat - code EFRAT for 10% off: https://efenigson.gumroad.com/l/desmet_efrat
►► Get a second citizenship and a plan B to relocate to another country with Expat Money, leave your details for a follow up: https://expatmoney.com/efrat
►► Join me in any of these upcoming events: https://www.efrat.blog/p/upcoming-events

-- LINKS –

Joe’s Twitter: https://x.com/josephkelly
Unchained’s Twitter: https://x.com/unchained
Unchained’s Website: https://www.unchained.com/
Efrat's Twitter: https://twitter.com/efenigson
Efrat's Telegram: https://t.me/efenigson
Ben's Twitter: https://x.com/bensamocha
Ben's LinkedIn: https://www.linkedin.com/in/ben-samocha-728147153/
Watch/listen on all platforms: https://linktr.ee/yourethevoice
Support Efrat's work: ⁠https://www.buymeacoffee.com/efenigson ⁠
Support Efrat with Bitcoin: https://geyser.fund/project/efenigson

-- CHAPTERS –

00:00 – Coming Up
01:11 – Intro to Joe Kelly
02:30 – Alaska. living on a sailboat & approach to business
05:30 – Joe’s businesses & entrepreneurship
07:15 – Bitcoin’s Long Terms Potential
09:50 – The Difference Between Bitcoin & Crypto
12:50 – Why “Unchained” Was Founded
17:50 – Handling Inheritance & Estate Planning
19:30 – Why Multisig Over Multi-Party Computation (MPC)
24:50 – What “Bitcoin-Native” Really Means
29:50 – Regulatory Clarity For Unchained
31:20 – Risk Management Policies for Investors & Borrowers
35:10 – US Regulation & Legal Hurdles
40:20 – Mistakes & Scaling in Bull Markets
42:00 – Lessons from Being a Pilot & Decision-Making
45:40 – What Gives Joe Hope