Cake Group Co-founder Submits Liquidation Application to Singapore High Court This article has been republished with permission from Binance News.

According to Foresight News, Chua U-Zyn, co- founder and CTO of Cake Group, the parent company of Singapore-based crypto investment platform Bake, has submitted a liquidation application to the Singapore High Court on December 1. The reason for the liquidation is not yet clear, and a hearing for creditors or anyone who may oppose the liquidation is scheduled for December 22 at 10:00. Foresight News previously reported that Bake announced a layoff of 53 employees, accounting for 30% of its total workforce, on November 14.