Mom's basement crypto trading for the win? A 25-year-old Aussie running a trading firm out of his parent's house banked $7M in profit during the 2021 bull market, as per public records.
A 25-year-old crypto investor who traded nearly $2 billion worth of crypto in 2021 ran his crypto empire from the comfort of his parent’s home in Sydney, Australia, according to public records.
The young gun in question, Darren Nguyen, has not spoken about the achievement of his small trading business, PO Street Capital, but a Jan. 2 article in The AustralianRegistered at his parent's house in Guildford, Sydney, Nguyen’s crypto business took home AU$10.41 million in after-tax profit for the fiscal year ended June 30, 2021, according to filings from the Australian Securities and Investments Commission .
PO Street Capital’s auditors wrote that the results show his net profit increased by 1,404.12% in 2021, compared to the previous year. According to the filings, PO Street Capital had AU$4.3 million worth of short-term provisions in June 2021, alongside an AU$1.3 million loan it was paying back to Nguyen, but had no other debts on its books.The report from The Australian suggested this indicates that PO Street Capital was self-funded to conduct such a high amount of trades at AU$3 billion, though the publication didn’t add
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