Uploaded July 2026 | Updated September 2026, 3 weeks ago
Kain Warwick asks Steven Goldfeder, Co-Founder and CEO of Offchain Labs, a direct question: would he trade a token almost anyone in the world is free to own for a restricted, investor-only version that carries real rights?
Goldfeder traces the answer back to Arbitrum's 2017-2018 seed round, when a handful of VCs said they would only invest if the project did a token, telling them at the time, “I don't think Arbitrum needs a token. I'm not doing a token.”
He also explains why keeping ownership this open, rather than concentrated among a small group of sophisticated holders, matters for who can actually be compelled to act.
Hosts:
⭐️ Kain Warwick - Host of Uneasy Money and Founder of Infinex and Synthetix - https://x.com/kaiynne
⭐️ Taylor Monahan - Co-host of Uneasy Money and Security Expert - https://x.com/tayvano_
Guest:
⭐️ Steven Goldfeder - Co-Founder and CEO of Offchain Labs - https://x.com/sgoldfed
This clip is from a longer conversation on Arbitrum's token design and governance. Full episode here: youtu.be/-6mTz-XunoM
We go live every Wednesday - subscribe to catch it live.
Sponsors
Cape: Your biggest crypto vulnerability isn't your wallet, it's your phone number. Cape is America's privacy-first mobile carrier that rotates your SIM identity daily and blocks SIM swaps before they happen. Get 33% off your first six months at cape.co/unchained (use code: UNCHAINED).
Chapters:
🪙 00:00 Kain's premise: nearly anyone on earth can own ARB, versus a gated version
🤔 00:56 Why sophisticated buyers would rather hold Offchain Labs equity
❓ 02:40 Kain asks Goldfeder directly
🕰️ 03:18 The investors who would only back Arbitrum if it did a token
🔐 04:26 Why who can be compelled matters more than who can buy
_______________________________________________________
#bitcoin #ethereum #crypto #cryptocurrencies
_______________________________________________________
Subscribe to our channel!
Website → unchainedcrypto.com
Unchained Daily Newsletter (FREE!)→ unchainedcrypto.beehiiv.com/subscribe
Unchained X → https://x.com/unchained_pod
Apple → podcasts.apple.com/us/podcast/id1123922160?ls=1
Spotify → open.spotify.com/show/1cJrrfGY1SKBIRn5noKSAf?si=6SI4qIcRTEO7EhOe0V9n4w
RSS Feed → https://feeds.megaphone.fm/LSHML4761942757
Unchained: Your no-hype resource for all things crypto!
Kain Warwick asks Steven Goldfeder, Co-Founder and CEO of Offchain Labs, a direct question: would he trade a token almost anyone in the world is free to own for a restricted, investor-only version that carries real rights?
Goldfeder traces the answer back to Arbitrum's 2017-2018 seed round, when a handful of VCs said they would only invest if the project did a token, telling them at the time, “I don't think Arbitrum needs a token. I'm not doing a token.”
He also explains why keeping ownership this open, rather than concentrated among a small group of sophisticated holders, matters for who can actually be compelled to act.
Hosts:
⭐️ Kain Warwick - Host of Uneasy Money and Founder of Infinex and Synthetix - https://x.com/kaiynne
⭐️ Taylor Monahan - Co-host of Uneasy Money and Security Expert - https://x.com/tayvano_
Guest:
⭐️ Steven Goldfeder - Co-Founder and CEO of Offchain Labs - https://x.com/sgoldfed
This clip is from a longer conversation on Arbitrum's token design and governance. Full episode here: youtu.be/-6mTz-XunoM
We go live every Wednesday - subscribe to catch it live.
Sponsors
Cape: Your biggest crypto vulnerability isn't your wallet, it's your phone number. Cape is America's privacy-first mobile carrier that rotates your SIM identity daily and blocks SIM swaps before they happen. Get 33% off your first six months at cape.co/unchained (use code: UNCHAINED).
Chapters:
🪙 00:00 Kain's premise: nearly anyone on earth can own ARB, versus a gated version
🤔 00:56 Why sophisticated buyers would rather hold Offchain Labs equity
❓ 02:40 Kain asks Goldfeder directly
🕰️ 03:18 The investors who would only back Arbitrum if it did a token
🔐 04:26 Why who can be compelled matters more than who can buy
_______________________________________________________
#bitcoin #ethereum #crypto #cryptocurrencies
_______________________________________________________
Subscribe to our channel!
Website → unchainedcrypto.com
Unchained Daily Newsletter (FREE!)→ unchainedcrypto.beehiiv.com/subscribe
Unchained X → https://x.com/unchained_pod
Apple → podcasts.apple.com/us/podcast/id1123922160?ls=1
Spotify → open.spotify.com/show/1cJrrfGY1SKBIRn5noKSAf?si=6SI4qIcRTEO7EhOe0V9n4w
RSS Feed → https://feeds.megaphone.fm/LSHML4761942757
Unchained: Your no-hype resource for all things crypto!
