Shortly before Dadvan Yousuf (21) was able to offer his cryptocurrency for sale on a platform, the Danish Financial Markets Authority intervened. With a trick, he still put his token on a stock exchange.
21-year-old Dadvan Yousuf fled Iraq to Switzerland as a child. According to his own statements, he has earned millions on cryptocurrencies.
With his Dohrnii fund and his own token, a cryptocurrency, he wants to provide access to education on cryptocurrencies and finance.
In Dohrnii Academy, a digital platform, users must be rewarded with the in-house Dohrnii token if, for example, they solve a quiz or complete challenges.
In mid-April, Finma stopped all cash flows from the fund with an order.
Now the token has been listed on a crypto exchange anyway.
Cryptomillionaire Dadvan Yousuf (21) has big goals: With his Dohrnii fund, he wants to make crypto-know-how available to as many people as possible, with the sale of his own cryptocurrency called DHN the project should be funded. But less than 24 hours before the listing on the Bitmart trading platform based in the Cayman Islands, Swiss financial market regulator Finma blocked the project with a super-preliminary injunction in mid-April.
But Yousuf and his fund did not let that deter them: with a trick, they were able to place their token on the decentralized crypto exchange “PancakeSwap” as originally planned. On Instagram, Yousuf points out that a group independent of the foundation – a so-called decentralized autonomous organization (DAO) – was at the forefront of the campaign. “This list is not initiated by us, it is a Community directory. We are not allowed to support it publicly, but I can and must say: I will definitely buy some Dohrnii tokens. “
Although neither he nor the fund, according to his own statement, had anything to say, Yousuf is visibly happy with the listing. He announces it in several stories and tells of how “everyone waited anxiously for it”. However, a look at PancakeSwap shows that interest is still limited. In the last 24 hours (from Tuesday at 18.30), 308 transactions totaling around CHF 200,000 have been registered. The price of a DHN token is about 40 centimes.
“The fund does not benefit from the listing”
The Dohrnii Foundation emphasizes that neither the Foundation nor its founder, Dadvan Yousuf, announced the listing. “There was a group of community members who unilaterally decided to include DHN in a liquidity pool.” Dohrnii’s social media platforms will be managed and operated by Dohrnii DAO. “They are completely independent of the fund,” a spokesman said.
According to the spokesman, the fund would not benefit financially from the listing on the platform: “Neither Yousuf nor the fund will sell a single token. This is not the plan, as will be clearly seen on the blockchain.” Only the members of the Dohrnii DAO decided how to proceed. “They will control the distribution and release of DHN tokens to fund the growth of the project.”
As Dadvan Yousuf himself says, the community listing sent a “strong signal”: “We can see that many people are currently trading actively and the price is above the primary selling price of the ICO – at $ 0.1 US.”
Finma representative clarifies allegations
The Swiss Financial Markets Authority Finma does not want to comment on the listing on the decentralized stock exchange when asked. However, spokesman Vinzenz Mathys confirms that Finma has appointed an investigator at the Dorhnii Foundation. “This clarifies whether an activity that is not permitted under financial market law is carried out.”
There are indications that the fund or natural persons affiliated with it may have offered securities, issued cash and accepted deposits from the public without the necessary financial market authorization.
According to the Finma website, the fund is currently almost completely on hold: Only the investigator is authorized to act on behalf of the fund. The people behind the fund are prohibited from taking further legal action without the investigator’s consent. Violations would have consequences: “The financial market law assessment also takes into account the behavior and cooperation of the parties during the investigation.”