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In late 2021, Yousuf took over part of the Liechtenstein startup Crowdlitoken and became their CEO subject to the ] (FMA) in Liechtenstein.<ref>Michael Schäfer, Werner Grundlehner: '''', ], 12. November 2021.</ref> The startup was founded to develop solutions to allow people to invest in real estate through digital shares in the form of tokens.<ref>{{Cite news|last=Grundlehner|first=Michael Schäfer, Werner|title=Krypto-Millionär Yousuf will Immobilienanlagen revolutionieren|language=de|work=Neue Zürcher Zeitung|url=https://www.nzz.ch/finanzen/immobilien/krypto-millionaer-yousuf-will-immobilienanlagen-revolutionieren-ld.1653416?reduced=true|access-date=2021-11-15}}</ref> In late 2021, Yousuf took over part of the Liechtenstein startup Crowdlitoken and became their CEO subject to the ] (FMA) in Liechtenstein.<ref>Michael Schäfer, Werner Grundlehner: '''', ], 12. November 2021.</ref> The startup was founded to develop solutions to allow people to invest in real estate through digital shares in the form of tokens.<ref>{{Cite news|last=Grundlehner|first=Michael Schäfer, Werner|title=Krypto-Millionär Yousuf will Immobilienanlagen revolutionieren|language=de|work=Neue Zürcher Zeitung|url=https://www.nzz.ch/finanzen/immobilien/krypto-millionaer-yousuf-will-immobilienanlagen-revolutionieren-ld.1653416?reduced=true|access-date=2021-11-15}}</ref>


In February 2023, Yousuf stepped down from his roles within the Dohrnii Foundation and the cryptocurrency ] platform. Although he resigned from active positions, he retained his involvement as a ].<ref>{{Cite web |title=Künftig nur noch Repräsentant: Bitcoin-Millionär Dadvan Yousuf legt Ämter bei Krypto-Bildungsplattform nieder |url=https://www.handelszeitung.ch/unternehmen/kunftig-nur-noch-reprasentant-bitcoin-millionar-dadvan-yousuf-legt-amter-bei-krypto-bildungsplattform-nieder-577253 |access-date=2023-08-10 |website=Handelszeitung |language=de-CH}}</ref> Following the conclusion of the enforcement procedure by ], the Dohrnii Foundation is in the process of dissolution.<ref>{{Cite web |title=Vom Flüchtling zum Millionär: Die vom Kryptowunderkind Dadvan Yousuf gegründete Stiftung Dohrnii wird liquidiert |url=https://www.handelszeitung.ch/geld/vom-fluchtling-zum-millionar-die-vom-kryptowunderkind-dadvan-yousuf-gegrundete-stiftung-dohrnii-wird-liquidiert-587534 |access-date=2023-08-10 |website=Handelszeitung |language=de-CH}}</ref>{{cn}} In February 2023, Yousuf stepped down from his roles within the Dohrnii Foundation and the cryptocurrency ] platform. Although he resigned from active positions, he retained his involvement as a ].<ref>{{Cite web |title=Künftig nur noch Repräsentant: Bitcoin-Millionär Dadvan Yousuf legt Ämter bei Krypto-Bildungsplattform nieder |url=https://www.handelszeitung.ch/unternehmen/kunftig-nur-noch-reprasentant-bitcoin-millionar-dadvan-yousuf-legt-amter-bei-krypto-bildungsplattform-nieder-577253 |access-date=2023-08-10 |website=Handelszeitung |language=de-CH}}</ref> Following the conclusion of the enforcement procedure by ], the Dohrnii Foundation is in the process of dissolution.<ref>{{Cite web |title=Vom Flüchtling zum Millionär: Die vom Kryptowunderkind Dadvan Yousuf gegründete Stiftung Dohrnii wird liquidiert |url=https://www.handelszeitung.ch/geld/vom-fluchtling-zum-millionar-die-vom-kryptowunderkind-dadvan-yousuf-gegrundete-stiftung-dohrnii-wird-liquidiert-587534 |access-date=2023-08-10 |website=Handelszeitung |language=de-CH}}</ref>{{cn|date=August 2023}}


== Controversy == == Controversy ==

Revision as of 16:55, 10 August 2023

Kurdish entrepreneur
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Dadvan Yousuf
Dadvan Yousuf (2021)
BornDadvan Ismat Yousuf Yousuf
(2000-04-09) April 9, 2000 (age 24)
Zakho, Kurdistan, Iraq
Occupation(s)Businessman, Bitcoin investor
Years active2011-present
Known forBitcoin activities,

Dadvan Ismat Yousuf Yousuf (born April 9, 2000) is an Iraqi businessman who gained attention in Switzerland for being recognized by the press as one of the youngest self-made billionaires in Switzerland due to his bitcoin investments.

Early life and education

Yousuf was born in Zakho, Iraqi Kurdistan on April 9, 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, 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 who were born in Switzerland.

In 2017, Yousuf 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.

Career

At the age of 11, Yousuf sold some of his toys to acquire funds to invest in Bitcoin. With this initial investment, he purchased 10 Bitcoins at a price of €15 each and continued to trade in the cryptocurrency. In 2012, he acquired 1000 Bitcoins at a rate of €11,126 each. In 2016, Yousuf invested in Ethereum, buying 16,000 units at a total cost of €134,000.

Yousuf founded the Dohrnii Foundation in Zug, which oversees the development of his cryptocurrency software. He also introduced his own cryptocurrency Dohrnii (DHN) in March 2021, as well as another token DHND in 2023. Yousuf became a multi-millionaire through his cryptocurrency trades, and is considered the youngest Swiss self-made millionaire.

In November 2021, Yousuf gained recognition by being included in the Forbes 30 Under 30 list for the DACH region. He was recognized as the youngest foundation founder, the youngest self-made millionaire, and the youngest creator of a digital cryptocurrency in Switzerland by Forbes.

In late 2021, Yousuf took over part of the Liechtenstein startup Crowdlitoken and became their CEO subject to the Financial Market authority (FMA) in Liechtenstein. The startup was founded to develop solutions to allow people to invest in real estate through digital shares in the form of tokens.

In February 2023, Yousuf stepped down from his roles within the Dohrnii Foundation and the cryptocurrency education platform. Although he resigned from active positions, he retained his involvement as a representative. Following the conclusion of the enforcement procedure by FINMA, the Dohrnii Foundation is in the process of dissolution.

Controversy

In February 2022, several critical press articles were released scrutinizing Yousuf's professional activities and credentials. Some reports alleged embellishments in his resume, though Yousuf has partially disputed these claims.

In March 2022, Yousuf filed a defamation complaint against two journalists from SRF Investigativ, a Swiss media outlet.

Regarding his involvement in cryptocurrency, Yousuf's engagements have drawn the attention of the Swiss Financial Market Supervisory Authority. The company has stated that guidelines were followed for an Initial Coin Offering, but as of March 2022, this has not been independently verified. Some experts, including one cited by the Swiss newspaper Blick, suggest that compliance might be possible under certain conditions. The Swiss Financial Market Supervisory Authority (FINMA) has concluded its enforcement procedure against the Dohrnii Foundation and its founder in June 2023. The investigation revealed that both entities engaged in various regulated activities within the crypto sector without obtaining the required FINMA authorization.

In early 2023, information emerged about potential financial difficulties faced by Yousuf, in connection with ongoing investigations by FINMA. Reports indicate the presence of unpaid debts, including hotel invoices amounting to 80,000 Swiss Francs (approximately $85,000) related to stays at the Dolder Grand in Zürich, Switzerland. There are also reported outstanding collections from various service providers, such as a Rolls-Royce dealership, the City Judge Office, and taxi companies. Yousuf has attributed these payment difficulties to his accounts being blocked by FINMA.

In 2023, Yousuf became the subject of scrutiny by the Public Prosecutor's Office of the Canton of Bern due to ongoing investigations.

References

  1. Rossier (Fotos), Kilian Marti (Text) und Philippe (2022-01-17). "Dadvan Yousuf ist der jüngste Selfmade-Milliardär im Land". Blick (in Swiss High German). Retrieved 2023-02-23.
  2. "Selfmade-Milliardär Dadvan Yousuf soll Fake-Uhren tragen". Blick (in Swiss High German). 2022-06-23. Retrieved 2023-02-23.
  3. Marti, Kilian (2022-03-22). "Jetzt verteidigt sich Dadvan Yousuf gegen die Vorwürfe". Blick (in Swiss High German). Retrieved 2023-08-10.
  4. "Krypto-«King» Dadvan Yousuf - Der Krypto-«Milliardär» und seine fragwürdigen Transaktionen". Schweizer Radio und Fernsehen (SRF) (in German). 2022-02-17. Retrieved 2023-08-10.
  5. "Geldwäscherei und Betrug: Ermittlungen gegen «Kryptomilliardär» Dadvan Yousuf gehen weiter". 20 Minuten (in German). 2023-01-18. Retrieved 2023-08-10.
  6. Money Maker: Folge 3: Dadvan Yousuf - Kryptomillionär mit 17 (S01/E03) | ARD Mediathek (in German), retrieved 2023-02-23
  7. ^ "Crypto-succès suisse – A 21 ans, l'ancien réfugié est devenu millionnaire grâce au Bitcoin". 24 heures (in French). Retrieved 2021-04-29.
  8. ^ "Vom Flüchtling zum Millionär – Er tauschte seine Spielsachen gegen Bitcoins". Der Bund (in German). Retrieved 2021-04-29.
  9. ^ "Svizzera, la favola di Dadvan, il giovane rifugiato curdo diventato milionario grazie ai Pokémon venduti a cambio di Bitcoin". la Repubblica (in Italian). 2021-04-18. Retrieved 2021-04-29.
  10. ^ 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)
  11. "Vom Flüchtling zum Bitcoin-Millionär". TeleZüri (in Swiss High German). 2021-08-23. Retrieved 2023-02-23.
  12. ^ "Der junge Kryptomillionär Dadvan Yousuf im Interview". Handelszeitung (in German). Retrieved 2021-08-04.
  13. "Cum a ajuns un refugiat irakian milionar în Elveția la 21 de ani. Era copil când și-a vândut figurinele Pokémon ca să-și cumpere Bitcoin". Libertatea (in Romanian). 2021-04-25. Retrieved 2021-04-29.
  14. 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.
  15. "Dadvan Yousuf". Forbes (in German). 2021-11-23. Retrieved 2023-08-10.
  16. MENAFN. "From Refugee To Forbes 30 Under 30: Dadvan Yousuf's Journey As A Crypto Entrepreneur". menafn.com. Retrieved 2023-08-10.
  17. Bentley·Crypto·, Michael (2023-04-06). "Dadvan Yousuf: One of 2023's Most Recognized Crypto Millionaires on a Mission to Enhance People's Lives | Markets Herald". https://marketsherald.com/. Retrieved 2023-08-10. {{cite web}}: External link in |website= (help)
  18. "Swiss entrepreneur Dadvan Youssef honored in Forbes 30 Under 30 list for fintech contribution - CryptoSaurus". 2023-04-08. Retrieved 2023-08-10.
  19. Michael Schäfer, Werner Grundlehner: Der Krypto-Zauberlehrling zündet die nächste Stufe, Neue Zürcher Zeitung, 12. November 2021.
  20. 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)
  21. "Künftig nur noch Repräsentant: Bitcoin-Millionär Dadvan Yousuf legt Ämter bei Krypto-Bildungsplattform nieder". Handelszeitung (in Swiss High German). Retrieved 2023-08-10.
  22. "Vom Flüchtling zum Millionär: Die vom Kryptowunderkind Dadvan Yousuf gegründete Stiftung Dohrnii wird liquidiert". Handelszeitung (in Swiss High German). Retrieved 2023-08-10.
  23. "Dadvan Yousuf (21) – Finma untersucht Stiftung von "Krypto-Zauberlehrling"". 20 Minuten (in German). 2022-02-15. Retrieved 2022-03-10.
  24. ^ Martin Beglinger: „Der Krypto-Zauberlehrling wird von der Finma durchleuchtet“, Neue Zürcher Zeitung, 14. Februar 2022
  25. "Krypto-"King" Dadvan Yousuf - der Krypto-"Milliardär" und seine fragwürdigen Transaktionen". 17 February 2022.
  26. Marti, Kilian (2022-03-22). "Dadvan Yousuf: Der Krypto-"Milliardär" verteidigt sich gegen die Vorwürfe". Blick (in Swiss High German). Retrieved 2022-03-23.
  27. "Dadvan Yousuf: Strafanzeige gegen Autorinnen des Schweizer Fernsehens". Handelszeitung (in Swiss High German). Retrieved 2023-08-10.
  28. "Strafanzeige gegen Autorinnen des Schweizer Fernsehens | MEDIENWOCHE". medienwoche.ch (in German). 2022-05-28. Retrieved 2023-08-10.
  29. "Junger Bitcoin-Investor – Geht beim Berner Kryptomillionär alles mit rechten Dingen zu?". Der Bund (in German). Retrieved 2022-03-10.
  30. "Kryptomilliardär Dadvan Yousuf: Kritik wird laut". Handelszeitung (in Swiss High German). Retrieved 2022-03-10.
  31. "Untersuchung der Finma - Kryptowährungen: Finma rügt Dadvan Yousuf und seine Stiftung". Schweizer Radio und Fernsehen (SRF) (in German). 2023-05-17. Retrieved 2023-08-10.
  32. "Untersuchung gegen Kryptomillionär – Finma rügt Krypto-Stiftung Dohrnii und deren Gründer Dadvan Yousuf". Tages-Anzeiger (in German). 2023-05-17. Retrieved 2023-08-10.
  33. Hässig, Lukas (2023-02-07). "Krypto-Yousuf schuldet Dolder Grand 80'000 Franken". Inside Paradeplatz (in German). Retrieved 2023-02-23.
  34. "Ermittlungen gegen Krypto-Investor Dadvan Yousuf". Blick (in Swiss High German). 2023-01-18. Retrieved 2023-02-23.
  35. "Krypto-«King» - Strafuntersuchung gegen Dadvan Yousuf". Schweizer Radio und Fernsehen (SRF) (in German). 2023-05-10. Retrieved 2023-08-10.
  36. Baumert, Anna. "Strafuntersuchung gegen «Krypto-King» Dadvan Yousuf". Nau (in German). Retrieved 2023-08-10.
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