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Hello reader,
I’ve never considered myself a big risk-taker, so even as the crypto world was booming in 2021, I decided to stay away. I don’t think I know enough to invest and trade in crypto, and discretion did indeed turn out to be the better part of valor, what with everything looking decidedly unrosy at the moment.
Still, not every firm in the space is doing badly. Cake DeFi clocked US$631 million in revenue in 2021, and despite the current state of affairs, CEO Julian Hosp is expecting the company to finish 2022 in the black.
Today’s premium article dives into the financials of the self-described “CeDeFi” firm – click in to see how it’s gotten to its enviable position.
Today we look at:
- The ins and outs of Cake DeFi’s financials
- Grab‘s food and grocery trends report for Southeast Asia
- Other newsy highlights such as SOSV’s latest cohort of its Orbit Startups program and FinAccel’s latest additions to its leadership team.
Premium summary
What would a transparent cake taste like?
Image credit: Timmy Loen
It’s pretty obvious even to a crypto “noob” like me that a company that can survive and do OK for itself – even as the rest of the industry is faltering badly – should be one that’s got good fundamentals. Perhaps today’s premium article by my colleague Scott can shed some light on the foundations on which Cake DeFi is built.
- See-through: Hosp says the firm has seen “record inflows over the past week” due to the ongoing concerns over centralized exchanges – a result of FTX’s collapse. He also points to Cake DeFi’s transparency as the reason for the increased activity.
- Stakes and liquids: While staking was the largest contributor to the company’s revenue last year – it made US$313 million from staking fees in 2021 – liquidity mining will likely be a very close second for this year, says Hosp.
- Peaks and valleys: While operating income for the first two quarters of this year was positive, Cake DeFi’s Q3 figure has “turned slightly negative,” and it is also “forecasting a similar slight cash-flow negative in Q4, unless crypto prices jump up,” Hosp shares. “We should be ending the year with a slight plus, though.”
Read more: Cake DeFi’s revenue hits $631m in 2021, but income to reduce in 2022, CEO says
News spotlight
I know I’ve contributed to the food delivery bit
Chart the right path to growth
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