Young cryptotrader living with mom attains 2 billion dollar turnover
Last Updated on 8 January 2023 by CryptoTips.eu
Flat whites are all the rage right now. The popular coffee mixture is a specialty from Sydney, Australia that has gone mainstream. There are other things that Sydney has been known for lately. For example, the one of the biggest cities in that country ‘down under’ is increasingly becoming a base for young crypto traders.
According to an article in the authoritative newspaper ‘the Australian’, the largest crypto trader in the country is now a 25-year-old who still lives at home with his mother and trades digital coins from the garage. He does not give interviews but does file tax returns and they are quite impressive. The article has since gone viral and is eagerly adopted by the American media.
Net profit
Darren Nguyen is the 25-year-old who filed a tax return for his 2021 income from his mother’s garage in Sydney last year. That was made public early this year and it turns out that Darren’s one-man company made a good $2 billion in trades that year and reported a net profit of about $7.5 million.
1) Mamkin trader built a $2 billion crypto empire.
— Dariusz/WANDA (@Dareos1971) January 4, 2023
Darren Nguyen, 25, who lives with his mother in suburban Sydney, earned $7.5 million in net income last year.
His company, PO Street Capital, has annual sales of $2.05 billion. pic.twitter.com/RmJLyvmqg5
In 2020, Darren, then 23 years old, made a profit of ‘only’ $600,000 from his trades. It is not yet known what he earned in 2022.
Many American investment banks are interested in his methods, but for the time being Darren is not communicating with anyone. The Australian media has meanwhile dubbed him the ‘anonymous crypto king’ and already tried to get hold of his mother for an interview, but no luck there either.
