Cake Group CEO offers to sell stake to former CTO at court hearing

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Cointime2024/02/28 05:37

By:Cointime

According to Techinasia, former Chief Technology Officer of Cake Group, U-Zyn Chua, has requested the Singapore High Court to shut down the cryptocurrency company in November 2023, and is now considering acquiring the company directly.As announced in a potential deal during a hearing in a Singapore court on Monday, Chua will buy out Cake Group co-founder and CEO Julian Hosp's stake in the company. The judge in charge of the liquidation application has adjourned the case for five weeks to allow Chua to consider the proposal. The terms of the transaction have not been disclosed.

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