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After 14 years at Goldman Sachs, a banker allegedly quit the company due to huge returns from their Dogecoin assets.
A senior manager at Goldman Sachs in London is said to have quit the firm after making a fortune on the meme-based cryptocurrency Dogecoin (DOGE).
Aziz McMahon, a former managing director and head of emerging market sales at Goldman Sachs, had resigned from the investment bank allegedly after netting major gains from his DOGE holdings, The Guardian reported on Tuesday.
Though reports did not specify exactly how much money McMahon made from his Dogecoin holdings, sources claimed that it was a substantial sum, pointing out that DOGE rallied over 1,000% in value this year.
According to reports, the finance veteran was dealing in cryptocurrency from a personal account and was not interested in Goldman Sachs’ cryptocurrency trading.
McMahon did not immediately respond to a request for comment from Cointelegraph.
Dogecoin has just surpassed the biggest cryptocurrency, Bitcoin (BTC), in terms of the amount of relevant internet search queries. According to CoinMarketCap numbers, Dogecoin has emerged as the fastest-growing digital currency since the beginning of 2021, recording up to 13,500 percent year-to-date growth and soaring from $0.005 to an all-time peak of $0.68 on May 7.
Dogecoin, which was developed as a prank in 2013 by IBM software engineer Billy Markus and Adobe engineer Jackson Palmer, is a cryptocurrency based on the famous “Doge” meme featuring a Shiba Inu.
Another cryptocurrency focused on dogs has recently risen in value. After setting fresh all-time highs yesterday, Dogecoin imitator Shiba Inu (SHIB) fell 13% to trade at $0.000028 at the time of publishing.