Debanked 12 times. Walked through an airport in handcuffs. Every charge eventually gone. Nader Al-Naji on the defense strategy that convinced both agencies to back off.

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In July 2024, Nader Al-Naji was preparing to board a flight to Turkey when the FBI arrested him in front of with his wife and son and walked him in handcuffs through the airport.

The DOJ and SEC had jointly charged the DESO and BitClout founder with defrauding investors of $3 million and running an unregistered securities offering. Twenty months later, both cases are gone: the DOJ dismissed in March 2025, the SEC dismissed with prejudice — meaning it can’t be refiled — in March 2026.

Nader tells Laura what actually happened, from the FBI raid on his Beverly Hills home and the clerical error that sent him to federal prison for a weekend, to the legal strategy that convinced both agencies to back off. He also revisits the BitClout celebrity era, the long call with Do Kwon before Terra launched, and the debanking tactic he calls ‘subpoena sniping.’

Host:

⁠⁠⁠Laura Shin⁠⁠⁠, Host / Unchained

Guests:

⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Nader Al-Naji (@nadertheory), Founder of DESO and BitClout

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How the DOJ and SEC Cases Against BitClout's Nader Al-Naji Collapsed