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| The foundation is currently being liquidated by the competent bankruptcy authority.<ref name=":6" /> | The foundation is currently being liquidated by the competent bankruptcy authority.<ref name=":6" /> | ||
| ] reported May 2023 that the public prosecutor's office in Bern has opened criminal proceedings against Dadvan Yousuf. He is suspected of professional fraud. He is alleged to have embezzled money. The public prosecutor's office of the canton of Berne had already started preliminary investigations in the case of Dadvan Yousuf. After further investigations, it has formally opened a criminal investigation on May 3 2023. Yousuf is suspected of "multiple commercial fraud, in part possibly embezzlement, in part possibly unfaithful business management." <ref>{{Cite web |date=2023-05-10 |title=Krypto-«King» - Strafuntersuchung gegen Dadvan Yousuf |url=https://www.srf.ch/news/wirtschaft/krypto-king-strafuntersuchung-gegen-dadvan-yousuf |access-date=2023-07-14 |website=Schweizer Radio und Fernsehen (SRF) |language=de}}</ref> | |||
| ==References== | |||
| <references /> | |||
| {{DEFAULTSORT:Yousuf, Dadvan}} | {{DEFAULTSORT:Yousuf, Dadvan}} | ||
Revision as of 10:15, 17 July 2023
Kurdish entrepreneur| Dadvan Yousuf | |
|---|---|
| File:DadvanPortrait.jpg | |
| Born | (2000-04-09) April 9, 2000 (age 24) Iraqi Kurdistan |
| Nationality | Iraqi |
| Known for | Cryptocurrency trade |
Dadvan Yousuf (born 9 April, 2000 in Awihee, Iraq) is a Kurdish entrepreneur from Iraq who lives in Switzerland.
Life
Yousuf was born in Iraqi Kurdistan in 2000. His father was part of the Peshmerga and fled the country to Switzerland before Yousuf was born. Three years later his mother left the country as well, together with her three sons. They arrived in Neuenburg, Switzerland, in 2003 where his father had relocated. In 2004, the family was granted refugee and moved to Ipsach. Yousuf has five younger siblings which were born in Switzerland.
When he first heard about Bitcoin with 11 years old, Yousuf sold some of his toys in his neighborhood in Ipsach, Bern and used the money to invest in Bitcoin. He bought 10 Bitcoins for €15 each and has been trading in Bitcoin ever since.
In 2012 he bought 1000 Bitcoins for €11,126 each. In 2016, he invested in Ethereum for the first time, buying 16 000 units for €134 000.
In 2017, he started an apprenticeship at the Eidgenössische Hochschulinstitut für Berufsbildung in Zollikofen. Around the same time, Yousuf claims to have developed a software for automated trades in cryptocurrencies, based on an algorithm analysing data and predicting fluctuations in the future. According to Yousuf, the algorithm evaluates data stemming from technical analysis, social media, macroeconomics and public statements about cryptocurrencies.
He founded the Dohrnii Foundation in Zug, which oversees the development of his cryptocurrency software. He also introduced his own cryptocurrency Dohrnii in March 2021. Yousuf became a multi-millionaire through his cryptocurrency trades. He is considered the youngest Swiss self-made millionaire.
In late 2021, Yousuf took over part of the Swiss startup Crowdlitoken and became their CEO subject to FMA. The startup was founded to develop solutions to allow people to invest in real estate through digital shares in the form of tokens.
Controversy
In February 2022, several critical press articles were published about Dadvan Yousuf and his ventures. For example, some information in his resume was embellished and there is serious doubt that Dadvan Yousuf bought his first Bitcoin at age 11.
The Swiss regulator FINMA concluded its proceedings against the Dohrnii Foundation and Dadvan Yousuf May 2022. FINMA found that the Dohrnii Foundation, together with its founder, acted as a group and that they:
a) seriously violated supervisory law by unlawfully operating as a securities firm and
b) acted as financial intermediary without autorisation.
According to FINMA Dadvan Yousuf accepted public deposits as a private individual without authorisation and furthermore did not comply with the cease-and-desist order during the investigation, but continued his activities.
The foundation is currently being liquidated by the competent bankruptcy authority.
- ^ "Crypto-succès suisse – A 21 ans, l'ancien réfugié est devenu millionnaire grâce au Bitcoin". 24 heures (in French). Retrieved 2021-04-29.
- ^ "Vom Flüchtling zum Millionär – Er tauschte seine Spielsachen gegen Bitcoins". Der Bund (in German). Retrieved 2021-04-29.
- ^ "Svizzera, la favola di Dadvan, il giovane rifugiato curdo diventato milionario grazie ai Pokemon venduti a cambio di Bitcoin". la Repubblica (in Italian). 2021-04-18. Retrieved 2021-04-29.
- ^ Tanner (Bilder), Martin Beglinger (Text), Simon. "Kryptowährungen: Vom Flüchtlingskind zum Bitcoin-Millionär". Neue Zürcher Zeitung (in German). Retrieved 2021-07-15.
{{cite web}}: CS1 maint: multiple names: authors list (link) - ^ "Der junge Kryptomillionär Dadvan Yousuf im Interview". Handelszeitung (in German). Retrieved 2021-08-04.
- "Cum a ajuns un refugiat irakian milionar în Elveția la 21 de ani. Era copil când și-a vândut figurinele Pokemon ca să-și cumpere Bitcoin". Libertatea (in Romanian). 2021-04-25. Retrieved 2021-04-29.
- Ritter, Pascal (2021-11-08). "Mit Bitcoin aus der Armut: «Ich bin eine wandelnde Provokation» – der jüngste Schweizer Selfmade-Millionär im Interview". Luzerner Zeitung (in German). Archived from the original on 2021-11-08.
- Michael Schäfer, Werner Grundlehner: Der Krypto-Zauberlehrling zündet die nächste Stufe, Neue Zürcher Zeitung, 12. November 2021.
- Grundlehner, Michael Schäfer, Werner. "Krypto-Millionär Yousuf will Immobilienanlagen revolutionieren". Neue Zürcher Zeitung (in German). Retrieved 2021-11-15.
{{cite news}}: CS1 maint: multiple names: authors list (link) - "Dadvan Yousuf (21) – Finma untersucht Stiftung von «Krypto-Zauberlehrling»". 20 Minuten (in German). 2022-02-15. Retrieved 2022-03-10.
- Martin Beglinger: „Der Krypto-Zauberlehrling wird von der Finma durchleuchtet“, Neue Zürcher Zeitung, 14. Februar 2022
- "Krypto-«King» Dadvan Yousuf - der Krypto-«Milliardär» und seine fragwürdigen Transaktionen". 17 February 2022.
- ^ FINMA, Eidgenössische Finanzmarktaufsicht. "FINMA concludes proceedings against crypto platform and its founder". Eidgenössische Finanzmarktaufsicht FINMA. Retrieved 2023-07-14.