# 024 Max Kei: Why The Debifi CEO Refuses To Custody Your Bitcoin  I All in Bitcoin w/CK

Page: https://stenobird.com/podcast/all-in-bitcoin-7180799/024-max-kei-why-the-debifi-ceo-refuses-to-custody-your-bitcoin-i-all-in-bitcoin-w-ck
Text version: https://stenobird.com/podcast/all-in-bitcoin-7180799/024-max-kei-why-the-debifi-ceo-refuses-to-custody-your-bitcoin-i-all-in-bitcoin-w-ck.md
Podcast: [All In Bitcoin](https://stenobird.com/podcast/all-in-bitcoin-7180799)
Published: 2026-01-14T13:51:28+00:00
Episode link: https://feeds.fountain.fm/JDeLIhyvDRXTkYpCrnr4/items/6Ugqbl4DY6gJFMyE5ujz/files/AUDIO---DEFAULT---49965cf9-cad3-49a0-a559-1bb0a8139c8c.mp3
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Duration seconds: 2119

## Resource

NO CUSTODY. EVER. Max Kei explains Debifi’s multisig setup, why private keys matter for both borrower and lender, and why trust is harder to rebuild than privacy. He breaks down what’s coming: KYC vs non-KYC, institutions “reaching out,” the one principle he won’t compromise on: custody and much more. 👇 ORDER YOUR BITBOX 02 NOVA BITCOIN ONLY HARDWARE WALLET WITH 5% DISCOUNT https://bitbox.swiss/allinbitcoin & Use Code ALLINBITCOIN 👉 Follow, like , subscribe and tap the bell to All in Bitcoin for more unfiltered conversations that go where others won’t. 🎧 Available on YouTube, Spotify, Apple, Nostr, and everywhere you listen: https://linktr.ee/allinbitcoin 👇FOLLOW MAX'S WORK: Nostr: npub1797h37mc98f6363m5nysxd0t2swuz7nxq4z83saw77em3czld6xqvuar68 Max X: @keidunm Debifi on X: @ debifi.com https://debifi.com 👇FOLLOW CK & ALL IN BITCOIN: Nostr: allinbitcoin@iris.to X: @allinbitcoinpod TIMESTAMPS: 00:00 Introduction 01:12 Time to go deeper 02:44 Governments in a decentralized world 03:50 Money isn’t misunderstood… it’s manipulated 06:08 The underrated Bitcoin feature nobody talks about 07:28 The inevitable KYC vs non-KYC split 08:17 A surprising divide: SoV vs MoE 08:58 What is DebiFi, and why did you build it? 11:08 Private keys protecting both borrower and lender 12:21 The cleanest multisig metaphor you’ll ever hear 13:32 The nightmare scenario 18:20 Non-custodial vs custodial: the tradeoff everyone ignores 25:57 “They’re reaching out now.” What changed? 28:56 From bottom-up to top-down adoption 33:39 Privacy vs trust DISCLAIMER:All views expressed by me or my guests are solely our own opinions. You should not treat any opinions expressed in this podcast as a specific endorsement to make a particular investment or follow a particular strategy, but only as an expression of…

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