Although Darren Nguyen's company, PO Street Capital, has experienced some success, he has remained silent about it up until a January 2 report in The Australian that highlighted it through public records.
Nguyen's cryptocurrency business, which is registered at his parents' Guildford, Sydney, home, produced an after-tax profit of A$10.41 million for the fiscal year that ended June 30, 2021, according to papers given by the Australian Securities and Investments Commission (ASIC).
Public records reveal a 25-year-old cryptocurrency trader who operated his crypto empire from the comfort of his parents' Sydney, Australia home in 2021 transacted almost $2 billion (AU$3 billion) worth of coins. This is the outcome of bitcoin transactions worth AU$2,98 billion made over the course of a year.
Over Nguyen's prior-year earnings, which totaled roughly AU$692,182 in 2020, it marks a considerable increase. According to data from PO Street Capital auditors, his net profit increased by 1,404.12% in 2021 compared to the previous year.
Notably, the price of cryptocurrencies surged sharply between July 1, 2020, and June 30, 2021, paralleling PO Street Capital's sharp performance improvement in 2021.
This demonstrates that PO Street Capital executed a sizable number of deals totaling AU$3 billion using its own funds, according to a piece from The Australian.
The Nguyen family has kept silent about Nguyen's cryptocurrency trading business, and his mother has refrained from disclosing any details about the trading operations that occurred inside of her home. Along with remaining silent about the business, Nguyen has also avoided discussing his trading strategies and the outcomes of PO Street Capital's most recent fiscal year, which ended on June 30.
The documentation states that, as of June 2021, PO Street Capital's only obligations are to pay Nguyen's loan balance of AU$1.3 million and AU$4.3 million in short-term provisions. Nguyen also received dividends from the AU$873,200 in earnings for that year.