Demand for this bitcoin-backed lender is growing despite rising rates

by Davis Quinton and Frank Chaparro

Crypto Infrastructure • October 13, 2023, 8:41AM EDT

Published 1 minute earlier on

The Block

Quick Take

Joseph Kelly, CEO of Unchained, delves into the company’s success as one of the last remaining U.S. bitcoin-backed loan providers and its growth amidst increasing federal interest rates.

Episode 90 of Season 5 of The Scoop was recorded with The Block's Frank Chaparro and Unchained CEO Joe Kelly

Listen below, and subscribe to The Scoop on Youtube, Apple, Spotify, Google Podcasts, Stitcher, or wherever you listen to podcasts. Please send feedback and revision requests to [email protected].

Joesph Kelly is the CEO of Unchained — a bitcoin financial services company that offers services including trading, inheritance solutions, bitcoin-backed loans, and tax-advantaged bitcoin retirement accounts.

In this episode, Kelly explains how his firm managed to become "the last lender standing in the US market for bitcoin-backed loans," and how Unchained has experienced growth despite rising federal interest rates.

Earlier this year, Unchained raised $60 million in a Series B funding round led by Valor Equity Partners.

About Authors

Davis Quinton is the Director of Podcasts at The Block and runs our flagship podcast called The Scoop, hosted by Frank Chaparro. Since joining The Block as an 'intern' in early 2022, he has worked closely with leaders across departments to translate The Block's written content into engaging multimedia formats. He holds a degree in Social Research & Public Policy from New York University in Abu Dhabi and is based in Sydney, Australia.

Frank Chaparro is the Editor At Large at The Block. Chaparro started his career at Business Insider, where he specialized in the intersection of digital assets and Wall Street, market structure, and financial technology. Soon after joining Business Insider out of Fordham University, Chaparro was interviewing top finance and tech executives, including billionaire Mark Cuban, “Flash Boys” star Brad Katsuyama, Cboe Global Markets CEO Ed Tilly, and New York Stock Exchange President Tom Farley. In 2018, he become a sought after reporter in the crypto world, interviewing luminaries such as Tyler Winklevoss, the cofounder of Gemini, Jeremy Allaire, the CEO of Circle, and Fundstrat head Tom Lee. He runs his own podcast The Scoop and writes a biweekly eponymous newsletter. He leads special projects, including The Block's flagship podcast, The Scoop. Prior to The Block, he held roles at Business Insider, NPR, and Nasdaq. For inquiries or tips, email [email protected].