Cryptocurrency Downgrade Hits Traditional Finance? Goldman Sachs Managing Director Resigns After Profitable Investment in Dogcoin

The managing director of Goldman Sachs has now resigned from Goldman Sachs after making a killing investing in dogcoin, opening a new chapter in his life of financial freedom.

According to overseas financial headhunting firm eFinancialCareers, citing market sources, the managing director of Goldman Sachs has now resigned from Goldman Sachs after making a big profit investing in dog coins, opening a new chapter in his life of financial freedom.

Is it a surprise? Surprised?

The big shot is Aziz McMahon, a ’98 graduate from the UK. In his profile page on Linklaters, it shows that he has been working in Goldman Sachs’ London office for as long as 14 years.

Neither Goldman Sachs nor McMahon himself has said anything about the matter, but McMahon’s Goldman Sachs colleagues have confirmed his departure. According to his colleagues, McMahon will probably create a hedge fund company of his own after this departure.

One day in the cryptocurrency world, one year on earth. The dog coin, which was born in late 2013 and originated as a joke, has been performing strongly this year. According to Coinmarketcap data, dogcoin has risen over 146 times so far this year.

Compared to the amazing ROI of dogcoin, the U.S. stock market is a bit lackluster. Year-to-date, the Dow is up 13.51% and the Nasdaq is up 3.98%. Even Tesla, the leading electric car company run by Musk, the former CEO of Dogcoin, has seen its stock price rise by just over 50% since last November.

However, dogcoin kicked off its plunge on May 9, with the price falling from above $0.70 to below $0.43 at one point.

This came after the founder of Greyscale Trust said he was going to short dogcoin and would exchange the money he made from it for bitcoin.

It’s no coincidence that Musk was on Saturday Night Live that day and faced constant questioning from the host, saying he agreed that dogcoin was a scam.

Cryptocurrency Downgrade Hits Traditional Finance? Goldman Sachs Managing Director Resigns After Profitable Investment in Dogcoin

Currently, Dogcoin remains in fourth place in cryptocurrency market cap, behind Bitcoin, Ether and Cryptocurrency, and ahead of TEDA.

And in addition to dogcoin, the cryptocurrency world has been staging frequent zoo quotes in recent times. Now, Shiba Inu coin (SHIB, shitcoin) is taking over the momentum of dogcoin, with SHIB rising over 10,000 times in two months and rising to the 17th place in total market capitalization of cryptocurrencies. As of this writing, according to CoinMarketCap data, SHIB has risen over 43% in the past 24 hours.

The situation reminds me of what Mr. Li (cryptocurrency bigwig Li Xiaolai) once mentioned in a recording: “A consensus of fools is also a consensus. It seems that everyone must accept this fact. I don’t know if I’ve bought any more coins since he said he had emptied his hands of all bitcoins in 2019.

Cryptocurrency Downgrade Hits Traditional Finance? Goldman Sachs Managing Director Resigns After Profitable Investment in Dogcoin

But then again, cryptocurrencies are becoming more and more intertwined with traditional finance (oh, the cryptocurrency world calls it classical finance).

Goldman Sachs had executed its first bitcoin derivatives trade on May 7. In addition, UBS is in the early stages of offering a cryptocurrency investment program to its clients, according to media reports.

The addition of traditional financial institution executives to the cryptocurrency community is also nothing new.

Just this past Friday, bitcoin services firm NYDIG announced that John Dalby, who was formerly the CFO of Bridgewater Fund, had joined its team. Christopher Giancarlo, former chairman of the U.S. Commodity Futures Trading Commission (CFTD), has also joined BlockFi, a crypto financial services company.

Note: This article does not constitute any investment advice. Cryptocurrencies are soaring and plunging, please invest rationally and be aware of the risks.

Posted by:CoinYuppie,Reprinted with attribution to:https://coinyuppie.com/cryptocurrency-downgrade-hits-traditional-finance-goldman-sachs-managing-director-resigns-after-profitable-investment-in-dogcoin/
Coinyuppie is an open information publishing platform, all information provided is not related to the views and positions of coinyuppie, and does not constitute any investment and financial advice. Users are expected to carefully screen and prevent risks.

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