According to reports, Goldman Sachs executives made a fortune after investing in Dogecoin and later resigned from their investment bank positions. Memetic cryptocurrencies are being touted by more and more celebrities, including the godfather Elon Musk and Mark Cuban.

Goldman Sachs resigns after exiting millions of cryptocurrencies

Aziz McMahon, the managing director of Goldman Sachs in the UK, has resigned from the investment bank. Goldman Sachs confirmed McMahon’s departure from “Business Insider” but did not provide any reasons. However, Efinancialcareers reported that the executive left because he made millions on Dogecoin and pointed out that he may be establishing a hedge fund. The publication cited unnamed sources and detailed:

According to reports, Aziz McMahon, managing director and head of emerging markets sales at Goldman Sachs in London, resigned, allegedly after making money with Dogecoin. Dogecoin is a cryptocurrency promoted by Elon Musk, and its value rose 72 times from early January to late last week.

The price of Dogecoin is currently at $0.4741 and has risen sharply in the past few months. Before the release of Elon Musk’s Saturday Night Live, it peaked at $0.6873 on May 6. According to data from markets.Bitcoin.com, the index has risen by more than 27% this month and has risen by more than 720% since the beginning of April. Since the beginning of the year, the price of the Mime cryptocurrency has risen by approximately 4,548%.

The price chart of Dogecoin. Source: Markets.Bitcoin.com

Recently, another Dogecoin investor stated that he became a millionaire within two months of investing in DOGE. He said that after being inspired by Tesla CEO Elon Musk, he started investing in the Mime cryptocurrency.

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Meme cryptocurrency has gained the support of more and more celebrities. Musk called himself the “Governor” and recently conducted a poll on Twitter, asking his followers whether they want Tesla to accept Dogecoin. Meanwhile, the NBA team Dallas Mavericks of Shark Tank star Mark Cuban has been accepting this cryptocurrency as payment.

Many executives of banks and investment banks have left traditional financial jobs and joined cryptocurrency companies. Last week, John Dalby, the former CFO of Bridgewater Associates of Ray Dalio, the world’s largest hedge fund, joined the Bitcoin investment company New York Digital Investment Group (NYDIG).

Luyi Zhang, a former senior analyst at Bank of America, has joined Coinbase as a senior software engineer. Nomura Jesse Bornstein’s former executive director recently became Stakehound’s institutional sales vice president.

Kevin Cassata, a headhunter at Carbon Agency, recently told Business Insider:

In the past four to five years, talented programmers, quantitative tools, traders and executives have been migrating to the cryptocurrency field, many of whom are from elite banks, funds and trading companies, and are starting their own companies.

What do you think of Goldman Sachs executives resigning after making huge investments in cryptocurrencies? Let us know in the comments section below.

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