Goldman Sachs executive quit after making a killing on dogecoin
A Goldman Sachs managing director reportedly raked in millions of dollars from cryptocurrency dogecoin — and then quit the Wall Street titan.
The London-based executive, Aziz McMahon, was with the bank
for more than 14 years, his LinkedIn profile shows, according to
eFinancialCareers.
McMahon might be starting a hedge fund, according to the
site, which cited sources at Goldman.
McMahon did not return the Post’s request for comment, but
Goldman confirmed his departure to Insider.
The news of McMahon’s departure comes after the crypto’s
staggering run-up in recent weeks. The digital token was up more than 12,000
percent since Jan. 1 last week, before dogecoin-booster Elon Musk’s much
anticipated “Saturday Night Live” appearance fell flat on investors.
At one point, the cryptocurrency was trading Saturday at 73
cents per coin, but fell to about 56 cents by the end of the night. Still, the
digital token’s meteoric rise over the past six months has made it one of the
best possible investments so far this year.
Dogecoin’s weekend tumble came after Musk called the meme
token a “hustle” on SNL, adding that it’s “as real” as a dollar bill.
The day before the show, Musk warned investors to be careful
when trading Dogecoin and other currencies.
Dogecoin was flat on the day and trading at about 50 cents
per coin as of 10 a.m. ET Tuesday, according to data from Coinbase.
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