Singapore-based crypto investment firm Cake Group has filed for liquidation. The parent company of crypto platform Bake, Cake Group is winding up its operations. The founder of U-Zyn Chua, the crypto investment platform, has applied for the liquidation process at a Singapore High Court. The reasons behind the company's liquidation are unclear, but Bake crypto platform had previously announced layoffs in September. The liquidation claim will be filed under the Singaporean Insolvency, Restructuring and Dissolution Act of 2018. The court has scheduled a hearing for creditors or opposers of the liquidation on December 22. Cake Group experienced significant growth in 2021, but its revenue and profits declined in 2022 due to the crash in crypto prices.
Залишайтеся на зв'язку
Підпишіться на нашу розсилку та отримуйте інформацію про вихід нових статей, інформацію про ексклюзивні знижки та інше
Або підпишіться на наш Telegram, щоб завжди бути в курсі наших новин.