Young crypto king forks out $38 million for Toorak mansion
Who on earth can afford to drop more than $38 million on a Toorak mansion before they hit 30 years old? It was the question exercising Melbourne after William Deague, chief executive of property developer Deague Group, sold his Orrong Road, Toorak knock-down-rebuild property for a price in the $38-million range to a mystery buyer.
But now the mystery is no more, with 26-year-old Australian Edward ‘Ed’ Craven emerging as the new owner of the property.
Ed Craven pictured on Instagram at a lunch with work colleagues.Credit:Instagram
Deague bought the block four years ago for $12.2 million and redeveloped the site with wife Nat who designed the interiors.
But they sure as heck didn’t spend $20 million on the rebuild. “We are very pleased with the result and looking forward to the next project,” Deague said. Well, he would, wouldn’t he?
Deague declined to comment on the price, the identity of the buyer or any other details as did Marshall White super agent Marcus Chiminello.
But the eyes of those keen to identify the owner soon turned to Craven, and the answer to the question of how he managed to stump up so much cash for the property lay in one word, readers. One word: cryptocurrency.
Craven is a shareholder in Easygo Gaming, a group of video game developers housed in Royal Bank Chambers on Collins Street.
An Age/Herald investigation found that Craven, 26, helped set up what is believed to be the world’s largest online cryptocurrency casino Stake.com along with business partner Bijan Tehrani, 28, in 2017.