• Tue. Feb 27th, 2024

After Making Fortune from Dogecoin, a Goldman Sachs Executive Decided to Quit



May 12, 2021

Ever since the cryptocurrency industry has set foot into the running year, it has been full of huge surprises for the entire cryptocurrency community. Right from the beginning of the year, the overall cryptocurrency industry shook the world for two reasons.

The first reason was the overall bullish nature of the cryptocurrency industry. This meant that almost every cryptocurrency was in greens and if that was not enough, then most of them hit their all-time highs.

The second reason was the overall market capitalization of the cryptocurrency industry. On January 7, 2021, all on-chain data-analyzing firms confirmed that the market capitalization of the industry had crossed the $1 trillion mark. This was yet another milestone achieved by the cryptocurrency industry while it was on its way to new glory.

Then there were cryptocurrencies such as Bitcoin (BTC) and Ether (ETH) that caused a storm in the entire crypto as well as mainstream industry. The mainstream institutions from around the world are adopting BTC and ETH as either mode of payments or modes of investments.

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However, the digital asset that has given the biggest shock to the entire cryptocurrency industry since the beginning of the year is Dogecoin. A meme coin launched back in 2013 as a source of humor and fun. When it comes to performing, the Dogecoin (DOGE) price has experienced an almost 15,000% increase.

Since then, the digital asset has gained enormous adoption from the cryptocurrency as well as mainstream industry. Despite many people calling it nothing more than a meme coin, investments keep coming to the digital asset in millions.

This is the reason why Dogecoin (DOGE) has gained tremendous market capitalization in a matter of 5 months. At the time of writing, the market capitalization of Dogecoin (DOGE) is $66.92 billion, making it the sixth-largest crypto by market capitalization.

With great success and promising bullish nature in the market, several individuals and institutes from the mainstream industry have also jumped for the opportunity.

Just recently, it was reported that Goldman Sachs recently had one of its senior and executive employees quit the job. The report suggests the executive was Aziz McMahon, who was Goldman Sachs’ senior manager and was based in London.

Turns out, Aziz McMahon was a proponent of cryptocurrencies and was closely monitoring the Dogecoin (DOGE) market. He made a huge investment in Dogecoin (DOGE) and ended up making a huge fortune.

McMahon was the head of Goldman Sachs’ emerging market sales and the former managing director at the banking giant. The reports of his resignation emerged on Tuesday, May 11, confirming that the cause of his resigning was indeed making a fortune from DOGE.


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