Dadvan Yousuf: From Refugee Child to Crypto Wealth Builder

The story of Dadvan Yousuf embodies a modern rise through digital assets. Born in Zakho and later raised in Switzerland, the entrepreneur has become one of the youngest multimillionaires through strategic investments in cryptocurrencies. His wealth primarily stems from early Bitcoin and Ethereum purchases, as well as subsequent business ventures in the crypto sector.

Early Bitcoin Transactions: Foundation of Wealth

At just 11 years old, Yousuf recognized the potential of digital currencies. He sold his toys to raise initial funds and acquired 10 Bitcoins at a rate of about 15 euros. This early insight into cryptocurrencies significantly shaped his future career.

As he grew older, he intensified his engagement. In 2012, he made a significant transaction: he bought 1,000 Bitcoins for a total of approximately 11,126 euros. This investment became a key pillar of his later wealth, as Bitcoin’s value increased substantially in the following years. The combination of early entry and substantial capital deployment enabled exponential wealth accumulation.

Ethereum Expansion and Digital Portfolio

Alongside his Bitcoin strategy, Yousuf diversified his crypto engagement. In 2016, he invested specifically in Ethereum, the emerging blockchain platform at the time. He secured 16,000 Ethereum units for a total of 134,000 euros. This diversification proved to be a strategic move and contributed significantly to his wealth growth.

Through these accumulated investments, Yousuf established himself as one of the largest private crypto wealth holders in the German-speaking world. His self-taught skills in market analysis and his willingness to invest early set him apart from many competitors.

From Theory to Practice: Business Ventures

Around 2017, Yousuf formalized his knowledge through vocational training in real estate at the Swiss University of Vocational Education in Zollikofen. Simultaneously, he began working on proprietary software that enables automated cryptocurrency transactions through algorithmic analysis.

Based on this foundation, he founded the Dohrnii Foundation in 2021 to structure his software development and new cryptocurrency projects. In the same year, he acquired a majority stake in Crowdlitoken, a Liechtenstein-based startup for tokenized real estate investments. The Financial Market Supervisory Authority (FINMA) approved Crowdlitoken for token sales in Switzerland up to a scope of 205 million US dollars. Yousuf took over management and board membership.

Recognition and Initial Allegations

His success story gained recognition in 2021 through Forbes’ “30 Under 30” list, where he was honored at age 21 as the youngest self-taught crypto millionaire and innovative founder. In January 2022, the Swiss magazine Blick estimated his wealth at 270 million Swiss francs.

However, critical reporting soon followed. In February 2022, various media published investigative articles questioning financial irregularities and suspicious transaction structures. These allegations marked a turning point between his rise and controversy.

Media Campaign and Legal Disputes

Yousuf responded to the coverage with legal actions. In March 2022, he sued two journalists from SRF Investigativ (Swiss Radio and Television) for defamation. In August 2024, the Zurich Higher Court ruled in favor of Yousuf, stating that the journalists had not sufficiently substantiated their claims. This led to the first conviction of SRF journalists in the broadcaster’s history and SRF covering legal costs of 10,676 CHF.

The verdict, however, sparked further reactions. In November 2024, SRF published three public statements defending its journalists. Yousuf responded with a new lawsuit demanding 13 million CHF in damages, considering the media statements themselves to be defamatory. SRF then retracted the controversial passages from the original article.

Regulatory Investigations and Structural Consequences

Alongside the media conflicts, Yousuf’s wealth activities came under the scrutiny of the Swiss Financial Market Supervisory Authority (FINMA). In May 2022, the Dohrnii Foundation was investigated for conducting regulated securities transactions without the necessary FINMA approval. In February 2023, Yousuf resigned as CEO. The subsequent enforcement proceedings led to the dissolution of the Dohrnii Foundation in June 2023.

Since 2023, a criminal investigation has been ongoing by the Public Security Office of the Canton of Bern. These developments demonstrate the complex legal landscape in the crypto sector and the challenges of building digital wealth under increasing regulatory pressure.

Yousuf’s journey from refugee child to crypto wealth builder remains a polarizing story: on one hand, evidence of the opportunities of early crypto investments; on the other, a cautionary example of the regulatory and legal risks in unregulated wealth accumulation.