Julian Hosp is a well-known name in the crypto world for his ambitious and controversial decisions. He recently made headlines again with the sale of his company Bake to GS Fintech UAB.
From TenX to Bake: The Rise and Fall
Julian Hosp gained attention as a co-founder of TenX, which aimed to create a cryptocurrency payment system. Despite initial success, the project faced various challenges, leading Hosp to leave in 2019. He later founded Bake, affiliated with DeFiChain, which also faced financial and market difficulties.
A History of Controversy and Criticism
Hosp's career has been marked by several controversies. Critics accuse him of overpromising and underdelivering, a theme evident in both TenX and Bake ventures. His promotional activities also faced ethical scrutiny. Reports highlight investor disappointment in TenX and challenges such as Bake's liquidity issues and regulatory investigation of Cake DeFi.
Bake’s Acquisition: A Strategic Pivot or a Forced Exit?
On December 11, 2024, Hosp announced the sale of Bake’s assets to GS Fintech UAB, finalized on January 2, 2025, positioning it as a strategic victory. The acquisition plans to integrate Bake's services into the GS20 Exchange, potentially stabilizing the company’s operations.
Julian Hosp leaves behind another chapter in his career within the crypto industry, offering a chance for a new phase in his company’s stories. As GSTechnologies takes the reins of Bake, Hosp’s future remains uncertain—whether he will soon return to the industry or finish his journey on this note.
