I recently came across a quite fascinating story that shows how different the paths to success in the cryptocurrency world can be. Dadvan Yousuf is one of those cases that are hard to imagine – from a refugee child from Iraqi Kurdistan to the youngest self-taught billionaire in Switzerland, all through Bitcoin and Ethereum.

The beginnings are remarkable. Yousuf's family fled to Switzerland in 2003 when he was just three years old. His father was part of the Peshmerga and had already left the country. Upon arriving in Neuchâtel, the family received refugee status in 2004. But even as a child, Yousuf showed an unusual interest in finance and international money transfers. At just 11 years old, he sold his toys to raise enough money for his first Bitcoin investment – 10 BTC for €15. That was the start.

The following years demonstrated his entrepreneurial instinct. In 2012, he bought 1,000 Bitcoin at a price of €11,126. Four years later, in 2016, Yousuf diversified into Ethereum and acquired 16,000 ETH for a total of €134,000. These early positions made him a multimillionaire before he even turned 20. In 2021, he made it onto the Forbes 30 Under 30 list at only 21 years old – a recognition of his achievement as one of the youngest self-made millionaires in the country.

Alongside his investments, Yousuf founded the Dohrnii Foundation in 2021 to develop software for automated cryptocurrency transactions. The algorithm was supposed to combine technical analysis, social media data, and macroeconomic factors to predict market movements. In the same year, he acquired a majority stake in Crowdlitoken, a Liechtenstein startup focused on tokenized real estate investments. After the acquisition, Yousuf became CEO and board member.

But then came the headwinds. In February 2022, critical media reports raised questions about his business activities. The Swiss Financial Market Supervisory Authority (FINMA) investigated the Dohrnii Foundation because it had engaged in regulated activities like securities trading without the necessary approval. Yousuf resigned as CEO in February 2023, and the foundation was dissolved in June 2023. Since 2023, a criminal investigation has also been ongoing by the Public Security Office of the Canton of Bern.

The interesting part: Yousuf filed a defamation lawsuit against two SRF investigative journalists. In August 2024, the Zurich Higher Court ruled that the journalists could not sufficiently substantiate their allegations – a rare conviction for SRF. The broadcaster had to cover Yousuf’s legal costs of 10,676 CHF. In November 2024, SRF published public statements defending its journalists, after which Yousuf filed new lawsuits demanding 13 million CHF in damages. SRF then controversially retracted certain passages from the original article.

Dadvan Yousuf remains a polarizing figure – on one hand, a symbol of the opportunities the crypto industry offers young talents, on the other, an example of the regulatory challenges and legal conflicts that can arise. His story shows how quickly things can go up and down in this space.