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CAKE has just unveiled its latest heavy duty electric two-wheeler at CES 2023. But unlike the company’s electric motorcycles and scooters that came before it, the CAKE Åik is an electric bicycle complete with pedals. But don’t think that this e-bike isn’t ready for some hard work.

This isn’t your typical electric bike. It’s part of CAKE’s “:Work” line of heavy-hauling utility vehicles on two wheels.

The CAKE Åik is similar in concept to the CAKE Ösa electric motorcycle that has been described as a “workbench on wheels” thanks to its highly modular work platform. And just like the Ösa, it’s another model that I’ll have to hunt around my keyboard to be able to type each time.

The Åik may be a street-legal electric bicycle, but it’s like no e-bike we’ve covered before. That’s because it’s actually built for heavy duty utility and work jobs.

The aluminum frame is designed to be ultra modular to fit a wide range of utility accessories. The bike comes with an impressive gross vehicle weight rating of 441 lbs (200 kg). Subtracting out the 78 lb (35.5 kg) weight of the bike and a single battery, that still leaves 363 lbs (165 kg) of cargo capacity.

You might want to use some of that extra capacity to mount a couple spare 12 pound (5.5 kg) batteries. A single battery offers a range of up to 74.5 miles (220 km), but the Åik can actually support three batteries (sold separately) that boost the range up to 223 miles (359 km) on pedal assist. The 750 Wh batteries use 21700-size cells and also function as powerbanks that can be used to power devices and tools.

CAKE Åik AIK electric bike

Throttling around instead of helping pedal will certainly net you less range than that lofty 223 mile figure, but with 2.25 kWh of battery you’re still looking at all day operation.

If you do choose to ride by throttle assist, you’ll be able to hit a maximum speed of 20 mph (32 km/h) without your feet doing any work. The top speed without electric assist? That’s listed as “as fast as you can pedal.”

The drivetrain uses a 1,000W peak mid-drive motor with a nominal rating of 500W and a 100 Nm torque rating. It is paired with a chain drive but is belt drive compatible. All the press photos show a belt drive, and that seems to be the nicer choice.

Both the belt and chain drives dump the motor’s power into an Enviolo Extreme CVP hub that functions as a continuously variable transmission (CVT). It includes automatic shifting, meaning riders can enjoy the smoothness and low-maintenance of a belt drive while still getting effortless shifting. It also means that the bike can shift at a standstill, which is useful for cargo e-bikes that carry heavy loads.

The CAKE Åik rolls on 20″ x 3.0″ tires and features Tektro Auriga four-piston hydraulic disc brakes on large 203 x 2.3 mm rotors. There’s no suspension to be seen, so those 3-inch tires are going to be doing the brunt of the shock absorption.

The frame is a single size step-thru model that is recommended for rider heights from 150-195 cm (4’11” to 6’5″), so basically everyone.

The bike features a USB-C charging port to power your personal electronics and includes surround LED lighting.

For connectivity, the CAKE Åik features a telematics unit with GPS, Bluetooth, and GSM connections that is compatible with the Cake App, Cake Fleet Management App, and external API integration. To keep the bike yours, anti-theft features include a GPS-activated alarm and tracking, as well as security screws for both wheels and an anti-theft seat clamp so no one walks off with your saddle.

If you’re thinking, “Well this looks great, but surely it’s expensive,” then you don’t even know the half of it. The CAKE Åik starts at a healthy US $6,470 with a single battery and without the extra “:Work” series accessories. Extra batteries cost US $780 each, plus another couple hundred bucks for the docks and wiring to run them in parallel (though you could also just swap them in one at a time).

If that seems pricey, well, it is. But it’s also probably not meant for you. CAKE is largely targeting commercial customers with its “:Work” line, as the company’s CEO Stefan Ytterborn explained:

With Åik joining the :work series lineup, we’re now offering a complete assortment of electric two-wheeled solutions for any business in need of a transportation solution. Our range is optimized for artisanal needs, from the fastest deliveries in town through to surveillance work in the backcountry.

CAKE Åik AIK electric bike

Electrek’s Take

It’s great to see CAKE expanding its product line so widely, from full motorcycles to mopeds to kids e-bikes and now adult utility e-bikes. But hot damn is that an expensive bike!

Sure, you’ve got that European design and manufacturing. But where is the rest of that cost coming from? They saved a few bucks with the lack of suspension, though I can see the argument that a rigid frame will be much more durable over the years.

Price tag aside, it really does look like a great bike. For a business that uses a vehicle for eight hours a day, five days a week and 52 weeks a year, a high quality e-bike is necessary to withstand that kind of punishment. It’s like the difference between the truck your neighbor bought to do grocery shopping and the truck a towing company buys.

Without seeing the Åik in person yet or testing it myself, I can’t say for sure that it’s built to that level. But that certainly seems like the target CAKE is aiming for here. Here’s to hoping they put one under me so I can give it a test. Perhaps I need to sign myself up for DoorDash soon…

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At Trump’s $148 million meme coin dinner, ‘the food sucked’ and security was lax, attendee says

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At Trump's 8 million meme coin dinner, 'the food sucked' and security was lax, attendee says

Crypto investor Nicholas Pinto attends President Donald Trump’s gala dinner for people who spent the most money on Trump’s meme coin, $TRUMP, in a contest, at Trump National Golf Club in Potomac Falls, Virginia, May 22, 2025.

Nicholas Pinto

The price of President Donald Trump‘s meme coin plunged 16% as of Friday morning, just hours after he hosted a black-tie gala at his Virginia golf club for its biggest buyers — an elite crowd that spent a combined $148 million on the token for the chance to be there.

It was billed as “the most exclusive invitation in the world.”

Among the 220 attendees were crypto influencers, industry executives such as Sandy Carter of Unstoppable Domains, and former NBA star Lamar Odom, who used the occasion to praise Trump as “the greatest president” and promote his own token, $ODOM.

The top 25 wallets were promised a private reception and guided tour. Others, such as 25-year-old Nicholas Pinto — whose dad drove him to the event in his Lamborghini — left underwhelmed and still hungry.

“The food sucked,” Pinto said. “Wasn’t given any drinks other than water or Trump’s wine. I don’t drink, so I had water. My glass was only filled once.”

Trump made only a brief appearance, Pinto said. “He didn’t talk to any of the 220 guests — maybe the top 25,” he said.

All in, the president was there for 23 minutes, Pinto said. Trump delivered a brief address rehashing old crypto talking points then left on a helicopter before taking any questions or pictures with his meme coin contest winners, he said.

Phones weren’t locked in RFID pouches, and security was lax, according to Pinto.

“Once Trump left, they didn’t really worry about anything else,” Pinto added.

Contest winners who spent the most on $TRUMP meme coins added their signatures to a poster-sized printout of the leaderboard at a gala dinner at Trump National Golf Club in Potomac Falls, Virginia, May 22, 2025.

Nicholas Pinto

The crowd’s opulence was on full display.

“Richard Mille watches weren’t even rare,” Pinto said. “I saw at least 16 people wearing them. I never see that unless I’m at a high-end restaurant in Miami or Dubai.”

But the vibe was more muted than expected, he said: “Lots of people didn’t even hold the coin anymore. They were checking their phones during dinner to see if the price moved.”

CNBC has reached out to Trump representatives for comment on the dinner and attendees.

Protests

For lawmakers and regulators, the dinner set off alarm bells.

The #1 token holder was Chinese-born crypto mogul Justin Sun, who is currently facing Securities and Exchange Commission fraud charges that were recently paused, with the agency citing “the public interest.”

Sun holds over $22 million in the $TRUMP token and another $75 million in World Liberty Financial’s native token.

“As the top holder of $TRUMP and proud supporter of President Trump, it was an honor to attend the Trump Gala Dinner,” Sun posted on Friday. “Thank you @POTUS for your unwavering support of our industry!”

Outside the gates of Trump National Golf Club in Potomac Falls, Virginia, about a hundred protesters gathered, according to NBC News. Sen. Jeff Merkley, D-Ore., joined them, backing a new End Crypto Corruption Act with Senate Minority Leader Chuck Schumer, D-N.Y.

Signs read “Crypto Corruption” and “Trump is a traitor.”

Crypto on Capitol Hill

“The Trump family activity in the memecoin space makes my work in Congress more complicated,” Rep. French Hill, R-Ark., told CNBC on Friday.

Hill, who’s leading negotiations on a bipartisan stablecoin regulation bill known as the GENIUS Act, called the gala “a distraction from the good work we need to do.”

Now, the GENIUS Act is at risk.

Sen. Josh Hawley, R-Mo., recently added a controversial rider to the bill that would cap credit card late fees — what’s seen as a poison pill that could alienate banking allies and stall final approval.

President Donald Trump speaks at a dinner for meme coin contest winners at Trump National Golf Club in Potomac Falls, Virginia, May 22, 2025.

Nicholas Pinto

On Thursday night as the meme coin contest dinner was underway, a bloc of Senate Democrats announced they’d be pushing for a new provision that would ban presidents and senior officials from profiting off crypto ventures while in office — a direct challenge to the Trump-linked stablecoin USD1 that launched in the spring.

In Washington, there’s growing concern that political infighting over Trump’s crypto ventures could derail the stablecoin bill altogether. That poses an even bigger risk.

According to The Wall Street Journal, major banks including JPMorgan, Bank of America and Citi are in early talks to issue a unified digital dollar to compete with Tether, the foreign-controlled stablecoin that now commands over 60% of global market share.

Those plans hinge on legal clarity.

If the GENIUS Act stalls, the U.S. could lose its window to regain ground in the global race for digital payments.

The White House has tried to draw a line between Trump the president and Trump the private businessman.

“The president is attending it in his personal time. It is not a White House dinner,” press secretary Karoline Leavitt told reporters when pressed on attendee transparency.

President Trump holds controversial private dinner for top investors in his meme coin

The administration declined to release a guest list. But blockchain data — and a patchwork of guest photos — tell part of the story.

A Bloomberg News analysis found that all but six of the top 25 wallets used foreign exchanges, ostensibly off-limits to U.S. users. More than half of the top 220 wallets were linked to similar offshore platforms.

One Nasdaq-listed penny stock, Freight Technologies, disclosed in an SEC filing that it spent $2 million on Trump’s token to push U.S.-Mexico trade policy. It didn’t make the cut for the dinner — finishing 250th.

Since its January debut, the $TRUMP coin has generated more than $324 million in trading fees. Roughly 80% of the $TRUMP token supply is controlled by the Trump Organization and affiliates, according to the project’s website.

WLFI, the Trump’s parallel token, has sold $550 million in two token sales.

President Trump holds meme coin dinner

Still, White House AI and crypto czar David Sacks remained bullish on “significant bipartisan support” for stablecoin legislation.

“We already have over $200 billion in stablecoins — it’s just unregulated,” Sacks told CNBC’s “Closing Bell Overtime” on Wednesday. “If we provide the legal clarity and legal framework for this, I think we could create trillions of dollars of demand for our Treasurys practically overnight, very quickly.”

“We have every expectation now that it’s going to pass,” added Sacks, though he didn’t answer a question about concerns from Democrats that there aren’t sufficient safeguards in place to keep the president and his family from profiting from legislation.

While Sacks sold $200 million in crypto-related holdings before taking his White House job, according to a disclosure filing, Trump and his family have been leaning into building a crypto empire.

The Trumps are financial backers of World Liberty Financial, which is behind the USD1 stablecoin that is backed by Treasurys and dollar deposits.

Abu Dhabi’s MGX investment fund recently pledged $2 billion in USD1 to Binance, the world’s largest digital assets exchange. It’s the company’s largest-ever investment made in crypto.

Read more about tech and crypto from CNBC Pro

President Trump hosts meme coin megadonors amid conflict of interest claims

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Podcast: EV/Solar killing bill moves forward, Elon lies about Tesla’s demand, cheaper EVs, and more

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Podcast: EV/Solar killing bill moves forward, Elon lies about Tesla's demand, cheaper EVs, and more

In the Electrek Podcast, we discuss the most popular news in the world of sustainable transport and energy. In this week’s episode, we discuss the EV/Solar killing bill moving forward, Elon lying about Tesla’s demand, cheaper EVs coming, and more.

The show is live every Friday at 4 p.m. ET on Electrek’s YouTube channel.

As a reminder, we’ll have an accompanying post, like this one, on the site with an embedded link to the live stream. Head to the YouTube channel to get your questions and comments in.

After the show ends at around 5 p.m. ET, the video will be archived on YouTube and the audio on all your favorite podcast apps:

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We now have a Patreon if you want to help us avoid more ads and invest more in our content. We have some awesome gifts for our Patreons and more coming.

Here are a few of the articles that we will discuss during the podcast:

Here’s the live stream for today’s episode starting at 4:00 p.m. ET (or the video after 5 p.m. ET)

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Circle K just opened a new spot exclusively for EV charging with no gas pumps in sight

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Circle K just opened a new spot exclusively for EV charging with no gas pumps in sight

This is what the future of travel will look like. Circle K opened its first location exclusively for EV charging in Europe. The site features ten ultra-fast EV chargers and a convenience store while you wait.

Circle K opens first EV charging-only site in Europe

The new EV charging hub is located in Gårda, near Gothenburg, Sweden. It’s Circle K’s largest EV charging-only location with ten 400 kW chargers that can recharge from 0 to 80% in around 15 minutes.

Kempower supplied two 600 kW Power Units and ten Single Satellite chargers that can deliver up to 400 kW of power.

With an improved version of Kempower’s Autocharge feature, the system can store your information so that the next time you visit, all you have to do is plug in. The system will recognize your vehicle and bill you automatically.

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While you wait, there’s a 1,076 ft² (100 m²) convenience store that offers “a complete retail experience,” offering food, drinks, Wi-Fi, and plenty of seating.

The site expects heavy traffic on Sweden’s E6, with over 10,000 vehicles travelling on the motorway daily.

Circle-K-EV-Charging
Circle K opens its first EV charging-only site in Europe (Source: Kempower)

The new EV charging-only site comes after Circle K opened its largest EV charging hub in Sweden. Located just southwest of Stockholm, the flagship location has 26 fast chargers that can be used with light and heavy-duty vehicles.

Circle K now has over 3,000 branded chargers across Europe and will continue adding to its network as demand for EV charging rises.

Circle-K-EV-charging
Circle K’s largest electric vehicle charging hub in Sweden (Source: Circle K)

With around 17,000 locations globally, the company said it’s “uniquely positioned” to support the transition to electric vehicles.

Will we see Circle K open a location exclusively for EVs in the US? As more electric cars hit the road, more charging options will be needed. A few convenience stores, including 7-Eleven, are already rolling out fast chargers. Through 7Charge, 7-Eleven aims to build “one of the largest and most compatible” EV fast charging networks of any retailer in North America.

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