Goldman Sachs top exec resigns after ‘making millions’ from Dogecoin

Aziz McMahon, managing director and head of emerging market sales at Goldman Sachs in London, resigned from his job for 14 years after allegedly earning millions from investing in Dogecoin (DOGE).

The senior manager of the U.S. investment bank appeared to have used his own personal account in the investment and was not involved in any kind of cryptocurrency trading for Goldman Sachs.

When reached for comment, the now ex-banker did not respond although it is believed that he earned substantial sum of money from his investments, enough to make him leave a job he held for over a decade.

The appeal of Dogecoin

The altcoin that was created back in 2013 based on an internet meme gets its appeal from famous backers that have been very vocal about it.

With the occasional namedrops and mentions by the likes of Tesla founder Elon Musk, rapper Snoop Dogg, the Kiss bassist Gene Simmons and Dallas Mavericks owner Mark Cuban, Dogecoin (DOGE) enjoyed a huge surge in its price, gaining a rise in value of more than 1,000% this year.

Meanwhile, little is known about the amount of money made by McMahon in investing in Dogecoin, although city sources speculate he made millions and that made him decide to leave his post for good.

A roller coaster ride for the meme crypto

Last week, days before the much anticipated appearance of self-proclaimed “The Dogefather” Elon Musk on long-time running show SNL, Dogecoin (DOGE) soared above $0.72. But since then, it experienced a 30% dip, falling to around $0.50.

Despite that, momentous events, such as SpaceX announcing it will accept the cryptocurrency payment for a payload delivery in space and Elon Musk asking his legion of followers on Twitter if they want Tesla to accept Dogecoin as payment, is expected to help the crypto bounce back somehow.

As of press time, according to CoinGecko, Dogecoin’s price is $0.49 and is 2.2% down during the past 24 hours.

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