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Dadvan Yousuf gained prominence through his cryptocurrency investments, particularly in Bitcoin, which reportedly made him Switzerland's youngest self-made millionaire. However, Yousuf and his business ventures have faced scrutiny over alleged financial irregularities.
Born on April 9, 2000, in Zakho, Iraqi Kurdistan, Yousuf's journey began with his family's migration to Switzerland. His father, a former Peshmerga fighter, fled to Switzerland before Yousuf's birth. In 2003, Yousuf, along with his mother and two brothers, joined his father in Neuenburg, Switzerland. The family was granted refugee status in 2004 and relocated to Ipsach. Yousuf, the eldest of six siblings, showed an early interest in finance, particularly in Bitcoin and international money transfers.
At the age of 11, Yousuf reportedly sold some of his toys to fund his first Bitcoin investment. He claims to have purchased 10 Bitcoins for approximately €15 each. In 2012, he allegedly acquired 1,000 Bitcoins for around €11,126. By 2016, Yousuf had expanded his crypto portfolio, investing in Ethereum, reportedly buying 16,000 units for €134,000.
In 2017, Yousuf began an apprenticeship at the Swiss Federal University for Teaching and Vocational Education in Zollikofen, completing it at a real estate company in Bern. Around this time, he claims to have developed software for automated cryptocurrency trading, based on an algorithm that analyzes data to predict future fluctuations. According to Yousuf, this algorithm incorporates data from technical analysis, social media, macroeconomics, and public statements about cryptocurrencies.
Yousuf founded the Dohrnii Foundation in early 2021 to oversee the development of his software and cryptocurrency tokens. Later that year, he acquired a majority stake in Crowdlitoken, a Liechtenstein-based startup focused on enabling real estate investment through digital shares in the form of tokens. Crowdlitoken had received authorization from FINMA for token sales in Switzerland, with a cap of $205 million. Following this acquisition, Yousuf became the CEO and joined the company's board of directors.
In 2021, at the age of 21, Yousuf was included in the Forbes 30 Under 30 list, recognized as one of Switzerland's youngest self-made millionaires and foundation founders, with efforts focused on cryptocurrency and fintech innovation. According to a January 2022 press article in Blick, his wealth was estimated at 270 million francs.
However, Yousuf's rapid rise to wealth has not been without controversy. In February 2022, several critical press articles examined Yousuf's professional activities and background, alleging irregularities in transactions. In response, Yousuf filed a defamation lawsuit against two journalists from SRF Investigativ, the Swiss Radio and Television, in March 2022. In August 2024, the Zurich Superior Court ruled that the journalists had failed to substantiate their allegations, leading to the first conviction of SRF journalists in the channel's history in October 2024. As part of this judgment, SRF was ordered to cover Yousuf's legal fees, amounting to 10,676 CHF.
On November 11, 2024, SRF published three public statements defending its journalists, emphasizing adherence to its editorial guidelines and commitment to protecting sources. In response, Yousuf filed a new defamation complaint and a civil lawsuit, seeking 13 million CHF in damages, alleging that the media statements defending the journalists were defamatory. SRF subsequently removed the disputed passages from the original article and modified its headline.
In early 2022, Yousuf sponsored FC Schaffhausen at the Wefox-Arena. He published his autobiography on October 24, 2022. 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.
Yousuf's cryptocurrency ventures have attracted the attention of the Swiss Financial Market Supervisory Authority. In May 2022, the Dohrnii Foundation was investigated for conducting various regulated activities, including acting as a securities firm, without obtaining the required authorization from FINMA. Yousuf resigned from his position as CEO in February 2023, and following enforcement proceedings by the Swiss Financial Market Supervisory Authority, the Dohrnii Foundation was dissolved in June 2023.
As of 2023, Yousuf is reportedly under criminal investigation by the Public Prosecutor's Office of the Canton of Bern. These developments highlight the complex and sometimes controversial nature of rapid wealth accumulation in the cryptocurrency space, especially for young entrepreneurs navigating the evolving regulatory landscape.