Tag: DeFiChain

Singapore resident Julian Hosp, a crypto entrepreneur already tarnished by his association with the defunct crypto venture TenX, is now embroiled in a contentious legal battle concerning his latest enterprise, Cake, as well as its associated crypto platform, DeFiChain (DFI). Uncovered documents expose a rift between Hosp and co-founder U-Zyn Chua, highlighting disputes over financial management, the company's future, and allegations of misuse of company funds.

Trading tokenized shares are currently all the rage on crypto exchanges. The aim is to indirectly offer customers trading with traditionally listed shares such as Apple, Microsoft, or Tesla without the intermediation of brokers and low fees. We think tokenized shares also qualify as securities and require a license. While FTX trades tokenized shares through its CySEC-regulated subsidiary K-DNA Financial Services Ltd and other regulated entities, Julian Hosp's DeFiChain operates without regulatory permission. Here's a quick comparison.

The self-proclaimed crypto guru Julian Hosp is infamous in the global crypto scene. The former manager at MLM scheme Lyoness before joining the collapsed crypto startup TenX in 2016 or 2017. TenX pulled off an $80 million ICO in 2017, but what happened to the money is unknown. Hosp parted ways with the rest of TenX's founders in a dispute in 2019 and founded Cake DeFi and DeFiChain, which are under fire and regulatory scrutiny. Germany's BaFin announced an investigation in January 2022. We advise investors to be extremely cautious of Julian Hosp and his unauthorized crypto schemes.