DeFiChain: Co-founder Julian Hosp makes his escape, according to report

The controversial crypto celebrity Julian Hosp is apparently turning his back on Singapore, and new tenants are being sought for his house there. This coincides with ongoing disputes surrounding DeFiChain (DFI) and Cake.

The lights are apparently going out at DeFiChain and the crypto company behind it, Cake. Subtenants are being sought for Cake’s office in Singapore and co-founder Julian Hosp is leaving his villa there (monthly rent 60,000 Singapore dollars). Hosp critic Lorena B. has compiled these revealing details on X (formerly Twitter). In her information, she can also refer to the second Cake co-founder U-Zyn Chua, who is fighting with Hosp in court over the future of the company. Hosp has been extremely tight-lipped for weeks when it comes to Cake and his personal plans.

Parallel to the developments in Singapore, DeFiChain (DFI) is currently trading at a new all-time low of USD 0.07. It remains to be seen whether the ecosystem, which also includes the failed stablecoin DUSD, can continue to build on Cake’s support. Hosp wants to sell its shares in Cake to U-Zyn Chua, who in turn has applied for the liquidation of the joint company. According to available information, the court in Singapore has set April 2 as the deadline by which an out-of-court settlement would be possible. Two weeks ago, Lorena B. ran through the scenarios that could be likely for DeFiChain and Cake – all of which were sobering for investors.

Julian Hosp is a red rag for many in the crypto scene. Before Cake and DeFiChain, the 38-year-old was involved in the crypto project TenX, which disappeared into oblivion and caused investors huge losses. On the other hand, Hosp still has some fans who defend him and DeFiChain on social networks and attack Lorena B.. However, she has regularly been correct with her reports on Hosp, Cake and DeFiChain in the past and apparently also receives information from employees and investors.

Conclusion: Cake and DeFiChain in a nosedive – what will become of Julian Hosp?

We have been reporting on Hosp and his projects for years, and the first warnings about DeFiChain can be found in our archive from the beginning of 2022. Since the dispute over Cake came to a head, at least two important DeFiChain projects have been canceled. The basic concept of DeFiChain with the alleged stablecoin DUSD has failed the practical test and the price curve of DFI is teetering towards zero. It’s hard to imagine that Julian Hosp will remain committed to DeFiChain and Cake – we will continue to monitor the case and keep you up to date.

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