Founded in 2019, Steaker was a digital asset management platform designed to help users invest in decentralized finance (DeFi) protocols to earn passive income. The company pooled user funds and deployed them into various yield farming and investment strategies, aiming to provide higher returns than traditional savings accounts. However, the platform faced severe operational issues following the collapse of the FTX exchange in late 2022, leading to a halt in withdrawals and subsequent legal action against its founder.