Cake Group, the parent company of crypto investment platform Bake, submitted a liquidation application

Odaily News U-Zyn Chua, co-founder and chief technology officer of Cake Group, the parent company of Singapore’s crypto investment platform Bake, submitted a liquidation application to the Singapore High Court on December 1. The reason for the liquidation is still unclear. A hearing for creditors or anyone who may object to the liquidation is scheduled for 10:00 on December 22. (Tech in Asia) According to previous news in November, Dr. Julian Hosp, CEO of Singapore’s crypto investment platform Bake, posted on the A sustainable break-even model, the companys main focus is not to cut a single vertical business and ensure that it can provide better services. Meanwhile, discussions have been ongoing about possible changes in the organizations leadership, but nothing confirmed so far. Once confirmed, it will first be communicated internally and then made public. If a leadership transition occurs at the company, business continuity will be prioritized through handover and transition planning. Hosp said he will continue to serve as CEO of Cake Group.