+ 3.27
+ 0.96%
+ 0.99
+ 0.23%

Goldman Sachs Director Allegedly Leaves The Bank After Making Fortune From Dogecoin: Report

May 11, 2021 5:10 pm
Share to Linkedin Share to Twitter Share to Facebook Share to Print License More
Goldman Sachs Director Allegedly Leaves The Bank After Making Fortune From Dogecoin: Report

A Goldman Sachs (NYSE:GS) managing director reportedly left the job after making a significant amount of money with Dogecoin (CRYPTO: DOGE).

What Happened: According to a recent eFinancialCareers report, Managing Director and Head of Emerging Market sales Aziz McMahon at Goldman Sachs London office resigned after making millions trading Dogecoin.

The news outlet admits that the rumor was confirmed neither by Goldman Sachs nor McMahon, but the director's colleagues purportedly confirmed his departure.

What Else: According to CoinMarketCap data, Dogecoin's price rose over 147 times since January, hitting its record high of $0.7159 on May 8, before correcting by over 28% to its current price of $0.5077.

See also: Goldman Sachs Leads $15M Investment Round In Crypto Analytics Firm Coin Metrics

At its highest, the coin's market cap reached $92.7 billion, higher than silicon manufacturer's Advanced Micro Devices, Inc. (NASDAQ: AMD), home-sharing firm Airbnb Inc (NASDAQ: ABNB), or petrochemical giant BP plc (NYSE: BP).

Since late April, the coin has kept its market cap above Ford Motor (NYSE: F) and Kraft Heinz (NASDAQ: KHC).

See also: Best Banking Apps

For the latest in financial news, exclusive stories, memes follow Benzinga on Twitter, Facebook & Instagram. For the best interviews, stock market talk & videos, subscribe to our YouTube channel.

Related Articles

Goldman Sachs Makes Move Into Blockchain With Latest Investment In Crypto Staking Platform Blockdaemon

Goldman Sachs Group Inc. (NYSE: GS) participated in the $28 million Series A funding round of Blockdaemon — a company that provides crypto staking and blockchain node management infrastructure. read more

Institutions Turn Bearish On Bitcoin As Weekly Outflows Reach Record $141M: CoinShares Report

What Happened: According to the latest report from CoinShares, institutional investors withdrew $141 million from Bitcoin (CRYPTO: BTC) funds over the past week. read more

Will Ethereum Recover Stronger Than Bitcoin? Goldman Sachs Thinks So

What Happened: Ethereum’s daily trading volumes nearly doubled Bitcoin’s on Tuesday, leading market participants to wonder if new money favored the second largest crypto asset over the first. read more

DBS Bank Singapore Launches Asia's First Direct Crypto Offering To Clients

Asia’s largest bank has moved to offer its wealthiest clients direct access to cryptocurrencies. read more