Aziz McMahon, a Managing Director and Head of Emerging Market Sales at Goldman Sachs in London, has reportedly resigned. According to reports, his resignation comes after he allegedly made a fortune from an Investment in Dogecoin.
Between the beginning of the year and last week, Dogecoin’s value has risen 72 percent. The cryptocurrency, just like Bitcoin, has enjoyed Elon Musk’s influence. Dogecoin has been in existence for quite some time and only started making big waves after Elon Musk’s involvement. The currency, popularly referred to as ‘joke currency’ because it was started as a joke, is far from being a joke. Dogecoin has hit some impressive milestones since this year.
Only colleagues have confirmed the exit of Aziz McMahon from Goldman Sachs. There has been no statement from him indicating an exit and Goldman Sachs is yet to answer to questions of Mr. McMahon’s exit. Speculations have it that Aziz McMahon left Goldman Sachs and may be starting a hedge fund or might be joining a cryptocurrency establishment.
Cryptocurrency has changed and is changing the game. It is just like a magnet and is slowly but gradually attracting more people to it. Dogecoin has been making some impressive gains of late and has abandoned its position of being a joke into something more serious. It is currently the fourth most valuable cryptocurrency by market capitalization.
Less than 48 hours ago, Elon Musk revealed his plans to take Dogecoin to the literal moon. The project is called ‘DOGE-1 Mission to the Moon’ and SpaceX is accepting Dogecoin as a means of payment for the lunar payload. This project is set to kick off by the first quarter of next year.
As cryptocurrency continues to boom, there will be more opportunities and positions to fill, and it seems like employees from technology companies and banks are already heeding this call. Kevin Cassata; Headhunter at Carbon Agency recently told Business Insider that “there has been a steady migration of talented programmers, quants, traders, and executives into the crypto space over the past four to five years, many of whom have come from elite banks, funds and trading firms, and are starting their own companies”. Luyi Zhang and Jesse Bornstein are examples of executives that have switched to the crypto side. Zhang was formerly a Senior Quantitative Analyst at Bank of America and now works at Coinbase as a Senior Software Engineer. Bornstein on the other hand has become the Vice President of Institutional Sales at Stakehound, a DeFi company.
With the unending opportunities that lie in cryptocurrency, more people are, especially businesses and business moguls are expected to switch to the crypto side.