Key Takeaways
- A split within a Swiss banking family highlights growing tensions within traditional finance, as it adopts crypto.
- The Strategy and Galaxy Digital cases show how Bitcoin-focused corporate models and crypto deals can spark feuds.
- Industry feuds underscore ongoing operational risks within the crypto ecosystem.
A dispute within a prominent Swiss private banking family has brought into focus how crypto can fuel internal feuds, as firms and investors grapple with the risks and opportunities of digital asset strategies.
Swiss Bank’s Crypto Feud
Marc Syz has exited Geneva-based Banque Syz SA, founded by his father Eric Syz, alongside business partner Richard Byworth, after disagreements over the bank’s direction.
The feud centred on plans to integrate crypto-focused Future Holdings AG into Syz Capital, the bank’s alternative investments arm, which Marc Syz previously led.
The proposal was ultimately blocked by the bank’s board, which raised concerns over risk exposure, according to Bloomberg.
Marc Syz said the decision led to his and Byworth’s departure after they were asked to step down from the crypto firm’s board.
Banque Syz declined to comment on the details of the split but confirmed the departures, adding that alternative investments remain a core part of its strategy.
Marc Syz is now pursuing a separate path for Future Holdings, including plans for a dual listing in Sweden and Switzerland that could position the firm as one of Europe’s largest corporate Bitcoin holders.
The disagreement has highlighted a range of diverging views on how aggressively to embrace digital assets.
Strategy Shareholder Disputes
Strategy, formerly MicroStrategy, faced multiple shareholder lawsuits in 2025 alleging inadequate disclosure around accounting changes tied to its substantial Bitcoin holdings.
The cases raised questions over whether the company’s aggressive crypto accumulation aligned with its core business model.
On July 21, 2025, one class action lawsuit alleged that holders of Strategy common stock were entitled to vote on the filing of a Certificate of Amendment.
The complaint sought an order reversing the amendment and declaring that Strategy’s board breached its fiduciary duties.
It also sought unspecified damages, including interest, attorneys’ fees, and costs, as well as other relief.
“At this time,” Strategy said, “we cannot predict the outcome or provide a reasonable estimate or range of estimates of the possible outcome or loss, if any, in this matter.”
While most lawsuits were dismissed or dropped later in the year, the episode underscored ongoing governance tensions and investor unease over the use of corporate capital for digital asset exposure.
Galaxy Digital vs. BitGo
Mergers and acquisitions in the sector have also proven to be contentious crypto feuds.
Galaxy Digital’s planned $1.2 billion acquisition of crypto custodian BitGo collapsed after the company backed out amid the bear market.
The two firms had agreed to merge in 2021, but the collapse of the deal triggered a high-profile legal dispute between the companies.
A judge ultimately sided with Galaxy, ruling that it had a “valid basis” to terminate the deal because BitGo provided “non-compliant” documents regarding its financial health.
“There are no facts alleged that could make it reasonably conceivable that the exercise of the termination right was inconsistent with the implied covenant of good faith and fair dealing,” a Delaware judge said at the time.
Ox.Fun vs. JefeDAO
Disputes have also taken a more combative turn.
A feud between the Su Zhu-backed exchange Ox.Fun and JefeDAO erupted over a frozen $1 million deposit.
JefeDAO alleged that Ox.Fun’s founder, “Nico,” tried to negotiate a deal for them to promote the exchange in exchange for their payment.
“I literally know this is 100% fraud just based on the fact that it is highly unusual and suspicious for an exchange to request the promotion of their social media accounts as a condition to return someone’s funds,” he wrote.
“OX FUN is a scam exchange and I will keep posting until my funds are returned in full,” he added.
Ox.Fun accused JefeDAO of being a “bad actor” and trying to exploit the platform, though JefeDAO said the allegations were false.
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Kurt Robson is a London-based reporter at CCN, specialising in the fast-moving worlds of crypto and emerging technology. He began his career covering local news in Cornwall after graduating from Falmouth University with First Class Honours in Journalism. There, he cut his teeth on everything from council meetings to missing swans.
He quickly rose through the ranks to become a frontline journalist at several of the UK’s leading national newspapers. Over the years, he has interviewed musicians and celebrities, reported from courtrooms and crime scenes, and secured multiple front-page exclusives.
Following the upheaval of the COVID-19 pandemic, Kurt shifted his focus to technology journalism—just ahead of the AI boom. With a natural curiosity and a trained eye for emerging trends, he has found a new rhythm in reporting on innovation.
At CCN, Kurt's work focuses on the cutting edge of crypto, blockchain, AI, and the evolving digital world. Drawing on his background in people-first reporting and his deep interest in disruptive tech, Kurt delivers stories that are insightful, entertaining, and human-centric.
