Crypto startup Cake Group just chopped 30% of staff amid a founders’ spat.
CEO Julian Hosp pulled the layoff trigger, surprising co-founder Benjamin Chua. Apparently these founders don’t bake together well!
Crypto Winter Woes, Founders Clash and App Update Missteps
Hosp blamed “crypto winter” for the cuts after revenues melted faster than a popsicle in July. But Chua called him out for ignoring the board.
This whole debacle followed botched rollout of an app update. Not great for company morale or credibility. Now Hosp claims Cake Group’s runway is solid and future rosy despite the drama. But skeptical minds wonder…
So buckle up, Cake crew! With clashing founders at the helm, your startup’s flight path looks bumpy.
