PO Street Capital Empire Operator Trades $2 Billion In Crypto Working At Home

Key Points:

PO Street Capital, Darren Nguyen’s cryptocurrency business, which is registered at his parents’ Guildford, Sydney, residence, generated an after-tax profit of A$10.41 million for the fiscal year ending June 30, 2021.
That represents a significant boost over Nguyen’s prior-year earnings, which came to about AU$692,182 in 2020.
The Nguyen family has remained mute regarding the cryptocurrency trading operation that Nguyen runs.

Darren Nguyen has had some success with his business, PO Street Capital, but has remained tight-lipped and hasn’t said anything about it until a January 2 article in The Australian highlighted it through public records.

According to documents provided by the Australian Securities and Investments Commission (ASIC), Nguyen’s cryptocurrency business, which is registered at his parents’ Guildford, Sydney, residence, generated an after-tax profit of A$10.41 million for the fiscal year ended June 30, 2021.

Public documents show that a 25-year-old cryptocurrency trader transacted approximately $2 billion (AU$3 billion) worth of cryptocurrencies in 2021 while operating his crypto empire from the convenience of his parent’s home in Sydney, Australia. This is the result of cryptocurrency transactions totaling AU$2,98 billion over a 12-month period.

That represents a significant boost over Nguyen’s prior-year earnings, which came to about AU$692,182 in 2020. The statistics reveal his net profit climbed by 1,404.12% in 2021 compared to the prior year, according to PO Street Capital auditors’ report.

Notably, between July 1, 2020, and June 30, 2021, the price of cryptocurrencies rose dramatically, paralleling PO Street Capital‘s dramatic performance improvement in 2021.

According to a story from The Australian, this shows that PO Street Capital was using its own funds to perform a huge number of trades worth AU$3 billion.

The Nguyen family has remained mute regarding the cryptocurrency trading operation that Nguyen runs, and his mother has refrained from sharing any information regarding the trading activities that took place inside of her home. Nguyen has also kept quiet about the company, including his trading methods and the results of PO Street Capital’s most recent fiscal year, which ended on June 30.

In accordance with the documentation, PO Street Capital does not have any additional liabilities as of June 2021 other than AU$1.3 million in loan payments to Nguyen and AU$4.3 million in short-term provisions. In addition, Nguyen got dividends from that year’s earnings of AU$873,200.

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Harold

Coincu News

Harold

With a passion for untangling the complexities of the financial world, I've spent over four years in financial journalism, covering everything from traditional equities to the cutting edge of venture capital. "The financial markets are a fascinating puzzle," I often say, "and I love helping people make sense of them." That's what drives me to bring clear and insightful financial journalism to the readers of Coincu.