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On March 23, Swiss private bank Syz Bank recently experienced a family dispute, as founder Eric Syz's son, Marc Syz, left the bank along with business partner Richard Byworth due to disagreements with his father over the direction of business development. The core of the disagreement revolves around whether to include the crypto asset company Future Holdings AG in the bank's alternative asset division, Syz Capital. Marc advocates for increased investment in alternative assets, artificial intelligence, and digital assets, while the bank's board withdrew approval for the plan due to risk considerations. Marc is currently working to promote a dual listing of Future Holdings in Sweden and Switzerland, aiming to establish it as Europe’s largest Bitcoin asset company. Under Marc's leadership, Syz Capital managed assets of approximately 2 billion Swiss francs (around 2.5 billion USD), and some funds have begun to flow out following his departure. The bank has also recently undergone other executive changes, with several top executives, including the Chief Operating Officer, leaving in succession. Marc and Byworth still hold about 25% of Syz Capital shares, and it remains unclear whether they will retain their shareholder status in the future. The two are also planning to establish an independent asset management company focusing on alternative strategies for capital preservation and growth. Syz Bank stated through a spokesperson that alternative investments remain a core pillar, but declined to comment on the details of the departures.

[Generational Dispute Erupts at Swiss Syz Bank as Founder’s Son Leaves with Crypto Project]On March 23, Swiss private bank Syz Bank recently experienced a family dispute, as founder Eric Syz's son, Marc Syz, left the bank along with business partner Richard Byworth due to disagreements with his father over the direction of business development. The core of the disagreement revolves around whether to include the crypto asset company Future Holdings AG in the bank's alternative asset division, Syz Capital. Marc advocates for increased investment in alternative assets, artificial intelligence, and digital assets, while the bank's board withdrew approval for the plan due to risk considerations. Marc is currently working to promote a dual listing of Future Holdings in Sweden and Switzerland, aiming to establish it as Europe’s largest Bitcoin asset company. Under Marc's leadership, Syz Capital managed assets of approximately 2 billion Swiss francs (around 2.5 billion USD), and some funds have begun to flow out following his departure. The bank has also recently undergone other executive changes, with several top executives, including the Chief Operating Officer, leaving in succession. Marc and Byworth still hold about 25% of Syz Capital shares, and it remains unclear whether they will retain their shareholder status in the future. The two are also planning to establish an independent asset management company focusing on alternative strategies for capital preservation and growth. Syz Bank stated through a spokesperson that alternative investments remain a core pillar, but declined to comment on the details of the departures.

Generational Dispute Erupts at Swiss Syz Bank as Founder’s Son Leaves with Crypto Project

On March 23rd, the US House Financial Services Committee will convene on Wednesday to discuss the topic of tokenization, as exchanges, market operators, and regulators advance the integration of securities products like stocks and bonds into blockchain-based infrastructure. However, committee documents indicate that the focus of this hearing will be relatively more concentrated. One bill will require the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) to jointly study tokenized securities and derivatives; another bill will permit certain regulated entities to utilize blockchain-based records under future SEC rules. These discussions continue a series of recent developments that have pushed tokenization further into the core of policy and market discussions.

In January of this year, the SEC stated that even if relevant records are migrated on-chain, tokenized stocks and bonds will still be subject to existing securities laws. Earlier this month, the SEC expanded its crypto regulatory framework, noting that most crypto assets do not qualify as securities, but tokenized securities clearly fall within its regulatory purview.

Last week, the SEC and CFTC also reached a coordination agreement, indicating that as Congress formally advances related issues, the regulatory bodies have begun to align at the regulatory level.

[US House Committee to Hold Tokenization Hearing This Week; SEC and CFTC to Jointly Study Tokenized Securities and Derivatives]On March 23rd, the US House Financial Services Committee will convene on Wednesday to discuss the topic of tokenization, as exchanges, market operators, and regulators advance the integration of securities products like stocks and bonds into blockchain-based infrastructure. However, committee documents indicate that the focus of this hearing will be relatively more concentrated. One bill will require the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) to jointly study tokenized securities and derivatives; another bill will permit certain regulated entities to utilize blockchain-based records under future SEC rules. These discussions continue a series of recent developments that have pushed tokenization further into the core of policy and market discussions.

In January of this year, the SEC stated that even if relevant records are migrated on-chain, tokenized stocks and bonds will still be subject to existing securities laws. Earlier this month, the SEC expanded its crypto regulatory framework, noting that most crypto assets do not qualify as securities, but tokenized securities clearly fall within its regulatory purview.

Last week, the SEC and CFTC also reached a coordination agreement, indicating that as Congress formally advances related issues, the regulatory bodies have begun to align at the regulatory level.

US House Committee to Hold Tokenization Hearing This Week; SEC and CFTC to Jointly Study Tokenized Securities and Derivatives

On March 23, the KOSPI index in South Korea fell below 5400 points, declining 6.59% during the day. (Jin Shi)

[KOSPI Index Falls Below 5400 Points, Down 6.59% on the Day]On March 23, the KOSPI index in South Korea fell below 5400 points, declining 6.59% during the day. (Jin Shi)

KOSPI Index Falls Below 5400 Points, Down 6.59% on the Day

On March 23, WTI and Brent crude oil prices briefly increased by $1, with Brent crude standing above $109 per barrel, marking a 1.10% increase for the day. WTI crude oil rose by 1.35%, currently priced at $99.89 per barrel. (Jin Shi)

[WTI and Brent Crude Oil Prices Rise by $1, Brent Surpasses $109 per Barrel]On March 23, WTI and Brent crude oil prices briefly increased by $1, with Brent crude standing above $109 per barrel, marking a 1.10% increase for the day. WTI crude oil rose by 1.35%, currently priced at $99.89 per barrel. (Jin Shi)

WTI and Brent Crude Oil Prices Rise by $1, Brent Surpasses $109 per Barrel

On March 23, news reported that spot gold continued to decline, falling below the $4,300 per ounce threshold, with a daily drop of 4.5%. New York futures gold also fell below $4,300 per ounce, experiencing a daily decrease of 6.03%.

[Spot Gold Falls Below $4,300 Mark]On March 23, news reported that spot gold continued to decline, falling below the $4,300 per ounce threshold, with a daily drop of 4.5%. New York futures gold also fell below $4,300 per ounce, experiencing a daily decrease of 6.03%.

Spot Gold Falls Below $4,300 Mark

On March 23rd, according to Lookonchain monitoring, a whale holding over 130,000 ETH (worth $268 million) has just sold 5,000 ETH (worth $10.31 million) at $2,063 per ETH and repaid a portion of its debt. This whale still holds 126,000 ETH (worth $260 million) on Aave, with approximately $122 million remaining in loans.

[Whale Holding Over 130,000 ETH Sells 5,000 ETH, Repays Debt]On March 23rd, according to Lookonchain monitoring, a whale holding over 130,000 ETH (worth $268 million) has just sold 5,000 ETH (worth $10.31 million) at $2,063 per ETH and repaid a portion of its debt. This whale still holds 126,000 ETH (worth $260 million) on Aave, with approximately $122 million remaining in loans.

Whale Holding Over 130,000 ETH Sells 5,000 ETH, Repays Debt

March 23rd news: Spot gold fell over 4% intra-day, currently trading at $4309.5 per ounce. This decline has wiped out its gains for the entire year, after having reached a peak year-to-date increase of nearly 30%.

[Spot Gold Erases Year-to-Date Gains, Drops Over 4% Intra-day]March 23rd news: Spot gold fell over 4% intra-day, currently trading at $4309.5 per ounce. This decline has wiped out its gains for the entire year, after having reached a peak year-to-date increase of nearly 30%.

Spot Gold Erases Year-to-Date Gains, Drops Over 4% Intra-day

Bitcoin Fear and Greed Index is 8. Extreme Fear.
Current Price: $68899.0.

[Bitcoin Fear and Greed Index is 8]Bitcoin Fear and Greed Index is 8. Extreme Fear.
Current Price: $68899.0.

Bitcoin Fear and Greed Index is 8

Spot silver has fallen by more than 5% during the day, currently trading at $64.35 per ounce.

[Spot Silver Drops Over 5% Intra-day, Trading at $64.35/oz]Spot silver has fallen by more than 5% during the day, currently trading at $64.35 per ounce.

Spot Silver Drops Over 5% Intra-day, Trading at $64.35/oz

According to the Nikkei, the Bank of Japan has coordinated with the three major banks and other local banks to conduct demonstration trials for the issuance of a "digital yen". The Bank of Japan will work with private sector banks and other institutions starting in spring 2023 to check for any problems with deposits and withdrawals from bank accounts. The Bank of Japan plans to conduct a two-year trial and decide in 2026 whether to issue a digital yen.

Detail

【The Bank of Japan will decide whether to issue a digital yen in 2026】According to the Nikkei, the Bank of Japan has coordinated with the three major banks and other local banks to conduct demonstration trials for the issuance of a "digital yen". The Bank of Japan will work with private sector banks and other institutions starting in spring 2023 to check for any problems with deposits and withdrawals from bank accounts. The Bank of Japan plans to conduct a two-year trial and decide in 2026 whether to issue a digital yen.

The Bank of Japan will decide whether to issue a digital yen in 2026

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