DeFiChain (DFI) is showing signs of dissolution, the price has fallen below 50 sats (3 cents). Co-founder Julian Hosp had set “Road to 50” as the target for DFI, meaning 50 US dollars. Is scam involved?
The DeFiChain project, co-founded by crypto celebrity Julian Hosp, is facing a landscape of ruins: measured in the lead currency Bitcoin, the price curve of DFI has fallen below 50 sats and has reached a new all-time low. Until not so long ago, Hosp had advertised DeFiChain with the slogan “Road to 50”, calculated in fiat and proclaimed 50 US dollars as the price target. Now Julian Hosp is no longer proving himself to be a master of announcements, but an expert in deletion campaigns. On X, we are not the only ones to notice that Julian Hosp is apparently trying to systematically delete his statements with “Road to 50” for DeFiChain from the Internet. The 38-year-old Hosp is already familiar with scam accusations from previous projects such as TenX.
The now tragic story of DeFiChain began to point towards the abyss two years ago. Back then, the algorithmic stablecoin DUSD, which was part of the ecosystem, lost its peg to the US dollar. DeFiChain never recovered from the shock, even though Julian Hosp publicly dreamed of bringing DUSD back to health. The last die-hard fans of DeFiChain are now pinning their hopes on a concept with a new stablecoin and DFIP (Dimensional Inflation-Protected) – although recent crypto history shows the failure of all major stablecoins that are not backed 1:1 by fiat and comparable collateral.
Indications of the liquidation of Cake/Bake
The agonizing death of DeFiChain for investors could now enter the final round. A crucial “bridge” connecting the ecosystem to others is no longer supported by Birthday Research, as almost went down on X. Birthday Research is part of Cake, the crypto company where Julian Hosp is CEO and has been the sole CEO since the acquisition in May. Cake (formerly Bake) surprised customers a few days ago with emails about planned account closures.
Meanwhile, what does Sunnyboy Julian Hosp do when he’s not unleashing lawyers on critics or hitting the delete button? On X, where his account still has a good 100,000 followers, Hosp blames regulators for “a lot of decisions that may seem strange”. Wasn’t there something with the German Federal Financial Supervisory Authority (BaFin) regarding Cake?
In our archive, you will find several dozen reports on Julian Hosp’s activities, not only relating to Cake/Bake, DeFiChain and co. We have also made the acquaintance of his lawyers and, on the other hand, experienced in 2021 how Julian Hosp fed us insider information in the TenX affair. The fact remains, however, that financial projects involving Julian Hosp do not have a happy ending for most investors.
Conclusion: DeFiChain – an outlook also on Julian Hosp
DeFiChain can be safely written off as a failure; whether or not intent was involved may have to be decided by the courts. We already discussed how Julian Hosp’s standing as a crypto influencer has changed and how he began to distance himself from DeFiChain back in June. The advice can really only be the same for the future: keep your capital away from “innovations” à la Hosp. In the meantime, we are keeping an eye on what is happening with Cake/Bake – because there are probably still millions in cash in the coffers that CEO Julian Hosp should have legal access to as a company owner. As we know, the jet-set life of a crypto celebrity is not cheap.
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