uzyn

Right after my exit from Cake Group which was finalized on May 27th 2024, I have wished the Company nothing but the very best and have not posted anything further to allow the Company to move forward. There have been recent discussions regarding a message I sent on October 7th, 2023 as shared by Julian Hosp. It's important to note that this message predates my winding-up application filed only on December 1st 2023. The excerpt shared omits crucial context. My original message was a response to the CFO's suggestion of liquidation due to an apparent impasse between Julian and myself. In that message, I proposed solutions focused on protecting dBTC holders. I also suggested buying of BTC with stablecoins. Remember the unanimous board decision to back all dBTC in January 2024? Look up what "unanimous" means and remember that I was a member of the board. There has also been implications that following from Julian Hosp's offer to sell his shares in February 2024, that I was only "seriously considering" but did not follow up with an offer. I would love for the matter to be put to rest after my exit, but it seems to continue to be spread further. I would like to make it clear once and for all: i. My consideration was followed up with an actual offer to purchase Julian Hosp's shares, which was turned down by Julian himself. ii. I later took up the same offer, with virtually identical terms as my previous one except with the parties flipped – with myself as seller of my shares. It was done both to allow myself to exit and to allow the Company to move forward. My sincere hope is that these clarifications bring an end to this chapter. I truly wish the company all the best and believe this allows them to focus their efforts on their products and core business.

Just and equitable wind-up 1. The Court dismissed my application for a just and equitable wind-up of Cake Group yesterday. 2. On the dismissal, The Court emphasized that decision is not an endorsement of Julian's conducts at the Company and noted that the Company should not be made to pay the price due to that. 3. We are now back at square one. After mutually agreeing that our trust & working relationship has broken down and that both of us were to part ways since September 2023, we have failed to effectively do so 6 months in. 4. After Julian's last offer to sell in February 2024, I have both offered to buy his shares, and offered my shares for him to buy, at exactly the same asking price. Both were declined. 5. I remain shareholder and director of Cake Group of companies. 6. I will consult my lawyers on the next steps.

Is Cake cooked? Founder clashes, liquidation loom over crypto firm techin.asia/3vTTfsu

Julian’s false accusations on me delaying court proceedings Julian Hosp has made false representations on court proceedings during Bake Live published on Twitter Space and YouTube on 9 April 2024, I will address them here and share the facts. Julian mentioned that he wanted the Court to make the decision fast and since December 2023 and made disparaging comments accusing me of delay tactics. This is factually incorrect. Here's the truth of what transpired: 1. The first hearing for wind-up application (HC/CWU 253/2023) was scheduled for 22 December 2023. 2. Julian made an application to have it converted to writ action, which entails a much more elaborated and time-consuming legal process, often taking months or even years to conclude. How is it possible for the Court to make a decision in December 2023 as Julian alleged he wanted if he himself wanted it converted to a much longer process? Many asked why there were 2 court proceedings, this is why. 3. On top of that, on 18 December 2023, Julian applied for an extension of his filing for 5 weeks. He also further suggested that I take a further 5 weeks, in reciprocal for his request, to file my response, thus proposing a much longer timeline than originally scheduled  – well into March 2024 for the first hearing. How is it possible for the Court to make a decision in December 2023 as Julian alleged he wanted if he himself asked for delays and wanted the first hearing to be held in March 2024? 4. I opposed the writ action. Further informing him, and the court that the protracted timelines proposed by Julian would unnecessarily and unacceptably delay the resolution of our disputes. I want a swift outcome. 5. The Court allowed Julian’s time extension, but set a shorter timeline than what Julian proposed, setting the first hearing on 27 February 2024. 6. One workday before the first hearing, out of normal court procedures, Julian made an offer to sell his shares to me. 7. My counsels wrote to Julian’s to allow for time to consider his offer to sell and have the hearing be adjourned so a deal can be worked out. 8. It was very rushed as it was only one business day before the hearing. My counsels also wrote to the Court to seek adjournment. 9. Julian opposed my request to adjourn the hearing. One would question the rationale of that – making a sell offer and allowing no time for the buyer to consider and to respond. 10. The hearing on 27 February 2024 went ahead but only for a few minutes before the Court granted adjournment to allow time for consideration of Julian’s offer to sell. 11. I accepted Julian's offer to sell at the price he wanted, but no agreement was reached. The second hearing took place on 12 April 2024. Julian did not attend. More details on that later. It is interesting to note that while Julian made repeated claims that he does not wish to “wash dirty laundry in public”, he has made many disparaging, and very often false, accusations on me and on the proceedings publicly. I reserve my full legal rights and will address other matters in due course.

@captains_tardis @BLorilora @bake_io @julianhosp Attend the court. Learn the truth.

@BLorilora @bake_io @julianhosp @uzyn 5 weeks after the last court date,despite Uzyn's public statements of interest in Julian's buyout offer, incl. social media posts and claims of agreement in principle,no action has been taken.With a new court date,it's evident that Uzyn's talk is cheap, revealing his true stance.

@BLorilora It's for the entire office.

In a surprise turn of events, 1 business day before the court hearing yesterday, Julian Hosp made an offer for me to buy over the entirety of his wife and his Cake Group shares, thereby allowing them both to exit Cake Group. Even though the offer came outside of the usual document submission window for court proceedings, I am putting in serious consideration in taking up the offer by Julian. Court was therefore adjourned.

I deny Julian's posts. Cake is my baby and it has been tough for me. There are disputes between him and I regarding the conduct of company's affairs that could not be constructively resolved internally. As these matters are now before the court, it is inappropriate for me to comment more at this time.

Breaking: @OpenAI has announced @sama is departing the company. Chief technology officer Mira Murati has been appointed interim CEO to lead OpenAI with a search process underway to identify a permanent successor. Altman’s departure follows a “deliberative review process by the board”, which concluded that OpenAI’s founder was not consistently candid in his communications with the board. Which, in turn, hindered its ability to exercise its responsibilities. In a statement released by OpenAI, the reason for Altman’s departure is the board no longer has “confidence in his ability to continue leading OpenAI.”

If you run @defichain masternodes, install this patch so you would be validating at peak capacity. Thanks @bushstar for the speedy patch.

Amazing work with the DMC hardfork. Great work by the @defichain engineers, @prasannavl @bushstar et al. Not forgetting community too with all the relentless testings. The block tickover was smooth like butter – except for the minor issue with v4 validation slowdown. Patch will be released soon that addresses it. If you're running a masternode, esp. one with multiple on a node, look out for a patch soon. Incredible milestone. I remember talking about it for first time almost 2 years ago. Have had a few different attempts at achieving it. The current one is simply an amazing engineering feat! It also leaves rooms for more VMs. @prasannavl 's already looking at WASM-VM, which IMO a great choice. Great release management by the team. Stable node released 2 weeks ago and it remains until post-hardfork without any last minute patches. Once again, lots of respects to all of you builders and testers. Looking forward to EVM activation soon and getting myself ready for the barrage of creative dapps that will be unveiled!

@cmunegow You want to DM me your txid? Will check with the team.

I do not agree with the decision made today at Cake Group to layoff a significant portion of our team members. A majority of whom affected are engineers and builders, whose skills and dedication are integral not only to our company’s progress but also to the industry at large. Their role in our collective achievements cannot be overstressed. To the team members we're losing: you have my deep respect and sincere wishes for your next chapter. Your contributions are immeasurable, and today's action does not reflect your value.

SBF found guilty on all seven counts. Unanimous verdict.

@Jiurn @ordzaar Thank you for the lovely thread and appreciation of what we do.❤️

This is the most undervalued company in ordinals right now @ordzaar is going to change the ordinal game 🫣 Here's why🧵👇 1/9

@prasannavl Now it’s real! Let’s go!!

#defichain #MetaChain Status update 6: rc1 is out 🎉 - Testnet is being rolled back to 1.15m to trim down and also remove some of the obsolete TXs. - Updating to the new version should be expected to switch to the new chain immediately. - Old testnet chain continues to run until the migration is complete across the ecosystem. Infrastructure: In order to keep the rolled back upgrade phase smooth: - The infrastructure will continue to stay on the old testnet until Oct 18, 8am UTC / 10am CEST / 4pm SGT. - The new infrastructure runs on beta.testnet.ocean.jellyfishsdk.com - Ready and syncing. After Oct 18, 8am UTC: - testnet.ocean.jellyfishsdk.com will switch over to beta.testnet.ocean.jellyfishsdk.com. - Old testnet.ocean.jellyfishsdk.com will switch over to archive.testnet.ocean.jellyfishsdk.com. - beta.testnet.ocean.jellyfishsdk.com unchanged for now and to be retired after all of the ecosystem has fully migrated.

The amount of time people talk to me about price predictions at: - Tech conference: a ton, surprisingly - Crypto conference: a lot - Ordinals conference: none ❤️

@realizingerin @hellmoneypod @InscribingAMS Bring it on! I must say I enjoyed the last one with the Q&A a lot. Do more of that. :)

Hope you all are ready for the backlog of @hellmoneypod episodes I’m editing now that @InscribingAMS is over