The CEO of Cake Group proposed to sell shares to the former Chief Technology Officer

ChainCatcher news, according to Tech in Asia, Chua U-Zyn, co-founder and CTO of the crypto company Cake Group, which applied for liquidation in the Singapore High Court in November 2023, is now considering a complete acquisition of the company.

According to a potential deal announced at a court hearing in Singapore, Chua will acquire the stake in Cake Group held by co-founder and CEO Julian Hosp. The judge overseeing the liquidation application has postponed the case for five weeks to allow Chua to consider the proposal.