Members of the crypto community experienced a “Manic Monday” in the early hours of June 13, 2022, as the price of cryptocurrencies continued to fall. On top of all that, crypto lending giant Celsius said that all withdrawals, swaps, and transfers between accounts would be suspended indefinitely. Insolvency rumors have been circulating as well.
First and foremost, we want to reassure our consumers that Cake’s everyday operations are unaffected by the present market circumstances. Although certain withdrawals might take up to 72 hours, we’re processing 99 percent of them within 24 hours. It is more important than ever to get first-rate service during these challenging circumstances. As a result, we’re putting in even more effort than normal to make sure everything runs well.
Our company and operations are based on openness and honesty. The assets of our clients must be kept separate from those of our Singapore-based fintech firm, which necessitates strict asset segregation. As a result, our customers have complete control over their money, including ownership and power.
It’s also important to note that Cake DeFi just serves as a conduit for the services it offers. What does this mean? Decentralized finance (DeFi) services, which are entirely on the blockchain and open to anybody and completely transparent, are a “safe passage” for our users. Customers technically have the ability to do these kinds of transactions on the blockchain. All these services may be accessed from any one location with customer and community assistance provided by Cake DeFi.
All transactions, yields, masternodes, and other relevant data are made available to our users in an open and transparent manner on the Cake DeFi platform. Because of this, people have come to rely on us with their money.
This is in sharp contrast to other CeFi platforms such as Celsius, Binance and Crypto.com – which may possibly be equated to a “black box” which gives minimal transparency and/or control to other organizations other than itself. As a result, customers would be left in the dark about important issues like where their earnings are coming from and whether or not their money are being mixed with those of the company’s operations.
Our belief is that, in light of the difficulties that crypto investors are now facing, the industry as a whole should do more to ensure and safeguard its customers’ funds. For us, openness and protection are more than just a duty; they’re a need.
The moment has come to caution our industry colleagues from “picking up pennies in front of a steamroller,” as the saying goes. A solid investing strategy seldom has the ability to produce large profits while ignoring the large hazards involved. If you’d like to utilize our services but haven’t yet signed up for Cake DeFi, you can do so here and start earning passive money in a secure and transparent way.
