Toorak Garden Residence sells for A$38m | Source: Conrad Architects

Inside the A$38m Toorak Mansion Bought by 26-Year-Old Crypto King, Edward Craven

The new owner of a A$38 million mansion in Toorak has been identified as 26-year-old crypto investor, Edward Craven.

Thought to be one of Australia’s most expensive properties, the million-dollar mansion sprawls across a 6,500 square feet block, residing in the already star-studded suburb of Toorak.

Following its purchase in 2018, the home has now been sold for three times its original asking price of A$12.2 million. The current median house price in Toorak is around A$5,325,000, according to smart property investment, with an average age of residents sitting at 45 years old.

The residence architecture was inspired by the 16th-century typology of the Palladian Villa | Source: Conrad Architects

This begs the question, what kind of fortune has a 26-year-old stumbled upon to purchase one of Australia’s most lavish and exorbitant residencies?

The answer lies in cryptocurrency.

Edward Craven is co-founder of one of the world’s biggest online crypto casinos, Stake.com, which today boasts over 500,000 users. The casino platform was founded in 2017 and currently facilitates a range of cryptocurrencies including Bitcoin and Ethereum.

Ahead of the Premier League season in 2021, Stake.com was reported to have signed a club-record sponsorship deal with Waterford FC and more recently, have signed a collaboration with Canadian rapper Drake.

Describing itself as a ‘leading crypto betting platform’, Stake is developed by Easygo, a software development company that Craven is a named shareholder of.

Easygo is an Australian startup company, self-proclaimed as striving to create “social, innovative and transparent gambling experiences to change the way people perceive the online gambling industry.”

Prior to Craven, the Toorak home was owned by the chief executive of real estate developer William Deague, who built the home in 2018. His wife Nat Deague designed the interior.

The affluent suburb is no stranger to million-dollar developments. Star-studded and once called home by the likes of Kylie Minogue, Tina Arena, Eddie McGuire and the late Prime Minister Harold Holt, Toorak sales have continued to smash records.

Chemist Warehouse boss Sam Gance was one such buyer, purchasing a A$43 million luxury home in 2021 and setting the record for Australia’s most expensive home sold at auction.

Designed by Conrad architects, Craven’s newly purchased Toorak home has every conceivable luxury. The opulent four-bedroom residence is equipped with a basement cinema, gym, swish pool and “reflection pond”. It is featured by its north-facing position, with soaring ceilings and light-drenched rooms.

A striking expression of scale and proportion, this contemporary residence draws inspiration from the long tradition of Palladian Garden Villas to engage with its expansive garden setting.

Conrad Architects on Toorak Garden Residence

The purchase of the Toorak Garden Residence by Craven is definitive evidence of the ever-growing crypto-empire, landing Craven as a conceivably young mystery buyer of the head-turning property.

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