Cake DeFi
Auto-generated score, not yet verified against the scoring model. Under review — treat as indicative, not a verdict.
Summary
Cake DeFi (operating in some markets as Bake) is a Singapore-based crypto staking, lending and liquidity-mining platform founded in 2019 by Julian Hosp and U-Zyn Chua. The platform has reported over $1 billion in customer assets and obtained a crypto-services licence in Lithuania, but it has also faced a since-withdrawn German regulatory warning over unlicensed banking activity, a bitterly contested co-founder lawsuit seeking to wind up its parent company, persistent de-pegging of its affiliated DUSD stablecoin, and public criticism of CEO Julian Hosp's earlier role at TenX, a 2017 ICO project some commentators have called an exit scam.
Connected Entities
1 entityNo connected entities recorded yet — this investigation is not currently linked to any other page in the index.
Timeline(9 events)
2017
Julian Hosp co-founds TenX, which conducts an ICO reportedly raising approximately $80 million; the project was later characterized by at least one industry outlet as an alleged exit scam.
Fintelegram2019
Julian Hosp and U-Zyn Chua launch Cake DeFi in Singapore.
Cake DeFi company materials, cited by DeFi RateJanuary 2022
Germany's BaFin issues a consumer warning stating Cake DeFi may be conducting unauthorized banking business in Germany via cakedefi.com.
Fintelegram / BTC-ECHOJune 2022
Cake DeFi announces it has paid out $317 million in rewards and surpassed $1 billion in total customer assets.
FinanceFeeds14 November 2023
CEO Julian Hosp announces a 30% workforce reduction at Cake Group, affecting 52 employees.
Blockhead1 December 2023
Co-founder and CTO U-Zyn Chua files an application with Singapore's High Court to wind up Cake Group, citing a shareholder dispute.
Blockhead28 July 2023
BTC-ECHO reports BaFin has deleted its January 2022 warning against Cake DeFi, citing the shutdown of the cake.io web presence.
BTC-ECHO27 April 2024
Singapore's High Court dismisses Chua's winding-up application against Cake Group; Judicial Commissioner Alex Wong rules Chua had not exhausted other remedies.
Blockhead28 May 2024
U-Zyn Chua formally exits Cake Group following a reported settlement of the co-founder dispute.
BlockheadDecision Log
- #1publishNot recorded (failed)10/8/2026, 8:06:18 AMhash DpaK2R425VUW7iJk7mHt5Y4rhRKbjbv3ZNYjDJhJNc5F
model: claude-code-investigator
generated: 10/8/2026, 8:06:11 AM
last updated: 10/8/2026, 9:45:16 AM
1 viewavoid.net — verified advice for a post-truth world