25-year-old Darren Nguyen's crypto business is based at his parents' suburban home, per The Australian.
Filings reported by The Australian show it managed to trade $2 billion worth of crypto in the fiscal year ending June 2021.go to www.BusinessInsider.co.zaA 25-year-old traded $2 billion of crypto despite living with his parents, according to public records cited byDarren Nguyen's crypto trading business, PO Street Capital, is registered at his parents' house in the suburbs of Sydney, Australia.
The filings from the ASIC show that PO Street Capital's net profit increased by over 1,400% from the previous year, when the firm made profits of around $460,000. Nguyen's trades coincided with a crypto boom in 2021. Over that fiscal year, Bitcoin's value more than tripled, while Ethereum, the second largest cryptocurrency, went up 865%. points out that Nguyen was likely able to trade at such a high volume only thanks to leverage. That would involve borrowing funds from a broker to trade at higher levels than one's cash balance, which carries a higher risk.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
BISouthAfrica
Business Business Latest News, Business Business Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
These 3 climate breakthroughs should give us hope for 2023 and beyond | Business InsiderThese milestones could make 2022 a turning point for the planet, including climate laws, progress in EVs, and agreements to combat plastic pollution.
Source: BISouthAfrica - 🏆 34. / 51 Read more »
What happens to your body in Mount Everest's 'death zone' | Business InsiderMore than 300 people have died climbing Mount Everest. At 26 000 feet, the body starts to die, cell by cell, of oxygen deprivation. | BISouthAfrica BISouthAfrica Why do they go there? BISouthAfrica And people like to continue climbing it for their deaths. BISouthAfrica Could H²O² be the next eq for Everest
Source: News24 - 🏆 4. / 80 Read more »
Donald Trump's niece Mary says racism was normal in her wealthy family | Business InsiderDonald Trump's niece Mary said she grew up listening to racist remarks from family members. She previously said she had heard them use the N-word. | BISouthAfrica BISouthAfrica Shem, and BISouthAfrica Who Cares? BISouthAfrica 😂😂😂😂😂
Source: News24 - 🏆 4. / 80 Read more »
North Korean hackers are posing as venture capital firms to steal crypto | Business InsiderNorth Korea's infamous Lazarus Group is creating domains that present themselves as well-known Japanese, US and Vietnamese companies. BISouthAfrica Kaspersky literally schooled by KGB. Pinch of salt. BISouthAfrica They hv bn running lots of pump and dumps BISouthAfrica This lot are the most horrible of humans ! And it’s so sad that their people have to live in fear and poverty in the name of communism what a load of Bs! This is not communism but a vile dictator ship ! Do people actually know what communism is ? I don’t think
Source: BISouthAfrica - 🏆 34. / 51 Read more »
How billionaire François Pinault built a luxury empire that owns Gucci and Balenciaga | Business InsiderFrançois Pinault dropped out of school at 16 and started working in the lumber business. Now, he's worth $35 billion. This publication is the pits, belenciaga is literally glorifying child porn but instead u demonize musk for exposing those who are for that culture. Unfollowed.
Source: BISouthAfrica - 🏆 34. / 51 Read more »
SA business: 21 burning questions that will be answered in 2023 | Business2023 looks set to be an eventful year in the South African business landscape. Here are some of the biggest developments you can expect. | News24_Business
Source: News24 - 🏆 4. / 80 Read more »