Unchained’s Steven Ehrlich joins Laura Shin to discuss his recent investigation into how digital asset treasury companies (DATs) are using locked tokens in ways that quietly rewrite the rules.

From liquid shares backed by illiquid assets to shifting unlock schedules and asymmetric information, we break down what investors need to know before buying into these structures, and why this could potentially be a governance and alignment problem for crypto as a whole.

Read Steve’s full story here: