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

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.

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-- 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/efenigsonBen's Twitter: https://x.com/bensamocha 

Ben's LinkedIn:  https://www.linkedin.com/in/ben-samocha-728147153/ 

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-- 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