How 25-Year-Old Australian Man Helped Trade $2Bln In Crypto

Sydney-Based Crypto Business Earned $2 Billion, Who Is Behind This?

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A Sydney-based new crypto business earned $2 billion during financial year 2021, The Australian reported on Tuesday.

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The report revealed that Darren Nguyen's crypto trading business, PO Street Capital, is registered at his parents' house in the suburbs of Sydney, Australia.

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As per the documents, which were filed with the Australian Securities and Investment Commission, the firm made an after-tax profit of $7 million as crypto boomed in 2021.

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The document submitted in ASIC shows that PO Street Capital's net profit increased by over 1,400% from the previous year, when the firm made profits of around $460,000.

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It also shows that it managed to trade $2 billion worth of crypto in the fiscal year ending June 2021.

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Bitcoin reached an all-time high of $69,000 in November 2021, but currently sits around $16,600.

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Although, since PO Street Capital first registered in June 2018, Bitcoin is still up around 118% as of Tuesday morning.

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