Half-Baked DeFi: Hating Your Cake And Eating it
Temperatures are rising at Cake Group as its founders are stirring up quite a layered situation. U-Zyn Chua wants to slice through the drama with a winding-up process whilst Julian Hosp has a different plan baking in the oven.
The icing on top is how publicly the founders are having their bake-off. As the layers unravel, can the pair whisk away their differences to find a sweet resolution?
Cake Group Co-Founder U-Zyn Chua Wants Company Wound Up, Julian Hosp Disputes
This move comes shortly after the company announced a significant staff reduction in mid-November, signaling financial and operational challenges.
Top-Tier Split
It's unclear how long Chua has been unhappy at Cake Group. Back in May, the firm launched Ordzaar - a Bitcoin ordinals marketplace. The project fell under Chua's purview and consisted of a small core team of four crypto natives who have over 30 years of experience in blockchain and Bitcoin.