A rejected Bitcoin integration plan at Swiss private bank Banque Syz led Marc Syz and Richard Byworth to leave the firm. They are now backing Future Holdings with a goal of building Europe’s largest Bitcoin treasury company.
Crypto veteran Richard Byworth revealed he helped a family office swap 25% of its Micron position for Strategy's STRC preferred stock, triggering heated debate. STRC trades at $74.57, far below its $100 par value.
Two Syz Capital executives resigned after the board halted their Bitcoin treasury project, deemed too risky. They teamed up with Blockstream CEO Adam Back to found Future Holdings AG, which aims to list on the SIX Swiss Exchange, has secured $35M in funding, and holds about 3,500 BTC after an acquisition.
