Dadvan Yousuf

Dadvan Yousuf
Yousuf wearing a suit
Dadvan Yousuf (2021)
Born
Dadvan 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 cryptocurrency investor and businessman whose early bitcoin investments made him the youngest self-made billionaire in Switzerland.[1] Yousuf and his companies have been the subject of a number of investigations into financial impropriety.[2][3][4]

Early life

Yousuf was born in Zakho, Iraqi Kurdistan on April 9, 2000.[5] 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.[6] They arrived in Neuenburg, Switzerland, in 2003 where his father had relocated.[7][8] In 2004, the family was granted refugee status and moved to Ipsach. Yousuf has five younger siblings who were born in Switzerland.[9] In his early years, he showed a interest in the field of finance, particularly on Bitcoin and international money transfers.[10]

Career

At the age of 11, Yousuf sold some of his toys to acquire funds to invest in Bitcoin.[8] With this initial investment, he purchased 10 Bitcoins at a price of €15 and continued to trade in the cryptocurrency.[11][6] In 2012, he acquired 1000 Bitcoins at a rate of €11,126.[12] In 2016, Yousuf invested in Ethereum, buying 16,000 units at a total cost of €134,000.[13] Yousuf became a multi-millionaire through his cryptocurrency trades,[7] and is considered the youngest Swiss self-made millionaire.[14][15]

In 2017 he started an apprenticeship at the Swiss Federal University for Vocational Education and Training in Zollikofen.[16] He finished his apprenticeship with a real estate company in Bern.[17] Around the same time, Yousuf claims, he developed a software for automated trades in cryptocurrencies, based on an algorithm analysing data and predicting fluctuations in the future.[8] According to Yousuf, the algorithm incorporates data from technical analysis, social media, macroeconomics, and public statements about cryptocurrencies.[18] Yousuf founded the Dohrnii Foundation to oversee the development of his cryptocurrency software and tokens in early 2021.[19]

Yousuf acquired the majority of Crowdlitoken,[20] a Liechtenstein startup focused on enabling real estate investments through digital shares in the form of tokens, in late 2021.[21] Crowdlitoken granted authorization from FINMA for the sale of tokens in Switzerland, establishing a hard cap of USD 205 million.[22][23][24] Following this acquisition, Yousuf became the Chief Executive Officer and joined the company's board of directors.[25] In 2021, Yousuf was included in the Forbes 30 Under 30 list at the age of 21, recognized as one of Switzerland’s youngest self-made millionaires and foundation founders, with efforts focused on innovation in cryptocurrency and financial technology.[26]

According to a newspaper article from Blick in January 2022, his fortune was estimated at 270 million francs.[27] In February 2022, several critical press articles scrutinized Yousuf's professional activities and credentials, alleging irregularities in transactions.[28] Subsequently, Yousuf filed a defamation complaint against two journalists from SRF Investigativ, the Swiss Radio and Television, in March 2022.[29] In August 2024, the Zurich High Court ruled that the journalists had failed to substantiate their claims,[30][31][32] leading to the first conviction of SRF journalists in the broadcasting company's history in October 2024.[33][34][35] As part of the ruling, SRF was required to cover Yousuf's legal fees, totaling CHF 10,676.[36] On November 11, 2024, SRF released three public statements to defend its journalists, emphasizing compliance with its editorial guidelines and commitment to protecting sources.[37][38][39] In response, Yousuf filed an additional defamation and civil lawsuit,[40] seeking CHF 13 million in damages, alleging that the media statements defending the journalists were defamatory.[41][42][43] SRF subsequently removed contentious passages from the original article and changed its title.[44]

FC Schaffhausen received sponsorship at the Wefox-Arena from Yousuf in early 2022.[45] He published his autobiography on October 24, 2022.[46][47] In December of the same year, Yousuf was featured in the ARD documentary titled 'Money Maker', which explored his journey from a refugee child in Kurdistan to becoming a multimillionaire through cryptocurrency investments in Switzerland.[48][49]

Yousuf's involvements in cryptocurrency have drawn the attention of the Swiss Financial Market Supervisory Authority.[50] In May 2022, the Dohrnii Foundation was investigated for engaging in various regulated activities, including acting as a securities firm, without obtaining the required FINMA authorization.[51] He resigned as CEO in February 2023, and following enforcement proceedings by the Swiss Financial Market Supervisory Authority, the Dohrnii Foundation was dissolved in June 2023.[52][53]

As of 2023 he is under criminal investigation by the Public Prosecutor's Office of the Canton of Bern.[54]

Personal life

Dadvan Yousuf - Everest summit (2024)

In May 2024, Yousuf became the first Kurd and Iraqi to summit Mount Everest during his first mountain expedition.[55][56] In 2024, Yousuf launched the Arcadia Initiative, creating solar-powered hubs to provide underserved communities with financial literacy and English learning tools using AI and offline platforms.[57]

Books

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. ^ swissinfo.ch/mga (2022-05-20). "Refugee 'crypto millionaire' faces Swiss money laundering probe". SWI swissinfo.ch. Retrieved 2023-08-17.
  3. ^ "Krypto-«King» - Strafuntersuchung gegen Dadvan Yousuf". Schweizer Radio und Fernsehen (SRF) (in German). 2023-05-10. Retrieved 2023-12-11.
  4. ^ "Strafverfahren gegen Dadvan Yousuf – 23-jähriger Berner Krypto-millionär soll Anleger getäuscht haben". Tages-Anzeiger (in German). 2023-05-10. Retrieved 2023-12-11.
  5. ^ Money Maker: Folge 3: Dadvan Yousuf – Kryptomillionär mit 17 (S01/E03) | ARD Mediathek (in German), retrieved 2023-02-23
  6. ^ a b "Crypto-succès suisse – A 21 ans, l'ancien réfugié est devenu millionnaire grâce au Bitcoin". 24 heures (in French). 21 April 2021. Retrieved 2021-04-29.
  7. ^ a b "Vom Flüchtling zum Millionär – Er tauschte seine Spielsachen gegen Bitcoins". Der Bund (in German). 2 April 2021. Retrieved 2021-04-29.
  8. ^ a b c "Svizzera, la favola di Dadvan". Cite error: The named reference ":2" was defined multiple times with different content (see the help page).
  9. ^ Tanner (Bilder), Martin Beglinger (Text), Simon (7 July 2021). "Kryptowährungen: Vom Flüchtlingskind zum Bitcoin-Millionär". Neue Zürcher Zeitung (in German). Retrieved 2021-07-15.{cite news}: CS1 maint: multiple names: authors list (link)
  10. ^ Beglinger (Text), Martin (2021-07-07). "Kryptowährungen: Vom Flüchtlingskind zum Bitcoin-Millionär". Neue Zürcher Zeitung (in Swiss High German). ISSN 0376-6829. Retrieved 2023-12-11.
  11. ^ "Vom Geflüchteten zum Multimillionär: die Geschichte von Dadvan Yousuf". www.fr.de (in German). 2022-01-15. Retrieved 2024-07-26.
  12. ^ Ritter, Pascal (2021-11-08). "Dadvan Yousuf (21): Vom Flüchtlingskind zum Bitcoin-Millionär". Luzerner Zeitung (in German). Retrieved 2024-07-26.
  13. ^ ""Money Maker" – ARD-Doku über Bitcoin-Millionär Dadvan Yousuf". Prisma (in German). 2022-12-21. Retrieved 2024-07-26.
  14. ^ Ritter, Pascal (2021-11-08). "Dadvan Yousuf (21): Vom Flüchtlingskind zum Bitcoin-Millionär". Luzerner Zeitung (in German). Retrieved 2024-07-27.
  15. ^ Schweizer, Oliver (2021-11-08). "Mit Bitcoin aus der Armut: «Ich bin eine wandelnde Provokation» – der jüngste Schweizer Selfmade-Millionär im Interview". Zofinger Tagblatt (in German). Retrieved 2024-07-27.
  16. ^ "Dadvan Yousuf: Der Kryptomillionär über seine Autobiografie, die Finma und den Crash". Handelszeitung (in Swiss High German). Retrieved 2024-07-26.
  17. ^ "Ipsach". St. Galler Tagblatt (in German). 2021-11-08. Retrieved 2024-07-26.
  18. ^ "Vom Flüchtling zum Bitcoin-Millionär". TeleZüri (in Swiss High German). 2021-08-23. Retrieved 2024-07-26.
  19. ^ "Der junge Kryptomillionär Dadvan Yousuf im Interview". Handelszeitung (in Swiss High German). Retrieved 2024-07-26.
  20. ^ Maeder (mae), Ruedi (2021-11-18). "Crowdlitoken – Dadvan Yousuf wird aktiv, das FinTech nimmt wieder Fahrt auf". MoneyToday (in German). Retrieved 2024-07-26.
  21. ^ "Krypto-Millionär steigt bei Crowdlitoken ein". finews.ch (in German). 2021-11-12. Retrieved 2024-07-26.
  22. ^ Startups, Bodensee (2019-09-30). "CROWDLITOKEN - erfolgreich in Immobilien investieren - BODENSEE STARTUPS". www.bodensee-startups.com (in German). Retrieved 2024-08-10.
  23. ^ Maeder (mae), Ruedi (2019-04-24). "Das Schweizer FinTech Crowdlitoken mischt aus Liechtenstein den europäischen Immobilienmarkt auf". MoneyToday (in German). Retrieved 2024-08-10.
  24. ^ "Tokenisierung: Die Immobilie kommt auf die Blockchain". finews.ch (in German). 2019-02-26. Retrieved 2024-08-10.
  25. ^ Gr, Michael Schäfer, Werner; lehner (2021-11-11). "Krypto-Millionär Yousuf will Immobilienanlagen revolutionieren". Neue Zürcher Zeitung (in Swiss High German). ISSN 0376-6829. Retrieved 2024-07-26.{cite news}: CS1 maint: multiple names: authors list (link)
  26. ^ "Dadvan Yousuf". Forbes (in German). 2021-11-23. Retrieved 2023-08-10.
  27. ^ "dadvan yousuf ist der juengste selfmade milliardaer der schweiz". Blick.
  28. ^ "Krypto-«King» Dadvan Yousuf - Der Krypto-«Milliardär» und seine fragwürdigen Transaktionen". Schweizer Radio und Fernsehen (SRF) (in German). 2022-02-17. Retrieved 2024-07-26.
  29. ^ "Dadvan Yousuf: Strafanzeige gegen Autorinnen des Schweizer Fernsehens". Handelszeitung (in Swiss High German). Retrieved 2024-07-26.
  30. ^ Ritter, Pascal (2023-06-23). "Dadvan Yousuf klagte gegen SRF – das macht die Staatsanwaltschaft". Aargauer Zeitung (in German). Retrieved 2024-12-22.
  31. ^ "Erfolg für «Krypto-Prinz»: Justiz muss SRF-Recherche prüfen". 20 Minuten (in German). 2024-08-19. Retrieved 2024-12-22.
  32. ^ Ritter, Pascal (2024-08-16). "Obergericht gibt Dadvan Yousuf recht: Staatsanwalt muss gegen SRF ermitteln". Luzerner Zeitung (in German). Retrieved 2024-12-22.
  33. ^ "SRF-Journalistinnen nach Klage von Krypto-Millionär verurteilt". 20 Minuten (in German). 2024-11-11. Retrieved 2024-12-22.
  34. ^ "Das gab's noch nie: Strafbefehl gegen zwei Journalistinnen des Schweizer Radio und Fernsehens SRF wegen übler Nachrede gegen den Krypto-Investor Dadvan Yousuf". Die Weltwoche (in German). 2024-11-10. Retrieved 2024-12-22.
  35. ^ Ritter, Pascal (2024-11-11). "Zu Unrecht von SRF in Terrorismus-Ecke gestellt: Sieg für Krypto-Wunderkind Dadvan Yousuf". Luzerner Zeitung (in German). Retrieved 2024-12-22.
  36. ^ "Krypto-Yousuf happy: 2 SRF-Journalistinnen gebodigt – Inside Paradeplatz" (in German). 2024-11-11. Retrieved 2024-12-22.
  37. ^ "Das sagt SRF: Stellungnahme zum Ehrverletzungsverfahren im Fall «Dadvan Yousuf»". Medienportal (in German). Retrieved 2024-12-22.
  38. ^ "Bericht zu Krypto-Unternehmer - SRF schützt seine Quelle im Fall Dadvan Yousuf". Schweizer Radio und Fernsehen (SRF) (in German). Retrieved 2024-12-22.
  39. ^ "Das sagt SRF: Stellungnahme zum Ehrverletzungsverfahren im Fall «Dadvan Yousuf»". SRG Deutschschweiz (in German). 2024-11-11. Retrieved 2024-12-22.
  40. ^ "Strafbefehl gegen Journalistinnen: Kryptohändler fordert von SRF einen Millionenbetrag". Tages-Anzeiger (in German). 2024-11-11. Retrieved 2025-01-04.
  41. ^ "Krypto-Wunderkind zeigt SRF erneut an – wegen Medienmitteilung". watson.ch (in German). Retrieved 2024-12-22.
  42. ^ "Üble Nachrede: Noch eine Strafanzeige gegen SRF". persoenlich.com (in Swiss High German). Retrieved 2024-12-22.
  43. ^ Müller, Dina (2024-11-18). "Krypto-Wunderkind zeigt SRF schon wieder an | Nau.ch". Nau (in Swiss High German). Retrieved 2024-12-22.
  44. ^ "Kritik am Krypto-«Milliardär»".
  45. ^ "Umstrittener Krypto-Unternehmer wirbt im FCS-Stadion | Schaffhauser Nachrichten". www.shn.ch (in German). 2022-02-18. Retrieved 2024-07-26.
  46. ^ Weill, Pierre (2022-08-15). "Dadvan Yousuf: Eine Biografie des Krypto-Investors". Neue Zürcher Zeitung (in Swiss High German). ISSN 0376-6829. Retrieved 2024-07-26.
  47. ^ "Dadvan Yousuf: Der Kryptomillionär über seine Autobiografie, die Finma und den Crash". Handelszeitung (in Swiss High German). Retrieved 2024-07-26.
  48. ^ Money Maker: Folge 3: Dadvan Yousuf – Kryptomillionär mit 17 (S01/E03) - hier anschauen (in German). Retrieved 2024-07-26 – via www.ardmediathek.de.
  49. ^ KG, imfernsehen GmbH & Co (2023-03-26). Money Maker Staffel 1, Folge 3: Dadvan Yousuf – Krypto-Millionär mit 17 (in German). Retrieved 2024-07-26 – via www.fernsehserien.de.
  50. ^ Beglinger, Martin (2022-02-14). "Der Krypto-Zauberlehrling Yousuf wird von der Finma durchleuchtet". Neue Zürcher Zeitung (in Swiss High German). ISSN 0376-6829. Retrieved 2024-07-26.
  51. ^ "Dadvan Yousuf (21) – Finma untersucht Stiftung von «Krypto-Zauberlehrling»". 20 Minuten (in German). 2022-02-15. Retrieved 2024-07-26.
  52. ^ "Vom Flüchtling zum Millionär: Die vom Kryptowunderkind Dadvan Yousuf gegründete Stiftung Dohrnii wird liquidiert". Handelszeitung (in Swiss High German). Retrieved 2024-07-26.
  53. ^ "Künftig nur noch Repräsentant: Bitcoin-Millionär Dadvan Yousuf legt Ämter bei Krypto-Bildungsplattform nieder". Handelszeitung (in Swiss High German). Retrieved 2024-07-26.
  54. ^ "Geldwäscherei und Betrug: Ermittlungen gegen «Kryptomilliardär» Dadvan Yousuf gehen weiter". 20 Minuten (in German). 2023-01-18. Retrieved 2023-08-10.
  55. ^ "دادفان يوسف.. أول كردي يحقق إنجازاً تاريخياً بوصوله إلى قمة إيفرست" [Dadvan Youssef: the historic achievement of the first Kurd to reaching the summit of Everest]. Almasra (in Arabic). 25 May 2024.
  56. ^ "إنجاز تاريخي".. أول كوردي يعتلي أعلى قمة جبلية في العالم (صور)" [Historic achievement: the first Kurd to ascend the highest mountain peak in the world]. Shafaq news (in Arabic). 23 May 2024.
  57. ^ "Arcadia Initiative" (PDF).
  58. ^ "Dadvan Yousuf: Der Kryptomillionär über seine Autobiografie, die Finma und den Crash". Handelszeitung (in Swiss High German). Retrieved 2023-12-11.