25-year-old crypto investor traded nearly $2 billion (3 billion Australian dollars) in cryptocurrency in 2021 from the comfort of his parent's home in Sydney, Australia, according to public records.
Darren Nguyen has yet to speak publicly about the success of his small trading company, PO Street Capital, but a Jan. 2 article in The Australian emphasized it through public filings.
Nguyen's crypto business earned AU$10.41 million in after-tax profit for the fiscal year that ended June 30, 2021, according to Australian Securities and Investments Commission filings (ASIC).
This resulted from AU$2.98 billion in cryptocurrency trading over a 12-month period.
It was a significant increase over Nguyen's previous year's earnings, which were estimated to be around AU$ 692,182 in 2020. Nguyen also garnered AU$ 873,200 in dividends from that year's profits.
PO Street Capital's auditors reported that its net profit increased by 1,404.12% in 2021 over the previous year.
According to the filings, PO Street Capital had AU$ 4.3 million in short-term provisions in June 2021 and an AU$ 1.3 million loan to Nguyen, but no other debts.
This suggests that PO Street Capital self-funded such a large number of trades totaling AU$ 3 billion. However, the publication did not take into account leveraged trading, which is likely to have contributed significantly to inflated trading volumes.
The family has remained silent about Nguyen's crypto trading business, with his mother refusing to comment on what she learned about the trading activity that took place under her roof.
Meanwhile, Nguyen has kept quiet about the company, including his trading strategies and how PO Street Capital performed in the previous fiscal year, which ended on June 30.
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