To the Moon! Goldman Sachs MD Exits Bank After Making Big Money in Dogecoin
This is a sign of the times, I guess. According to a report, a Managing Director at
Goldman Sachs (NYSE:GS) has exited the vaunted investment bank after making big money in Dogecoin.
Beginning in 2021, Dogecoin traded as less than a penny per coin. Jump forward a couple of months and Dogecoin is now trading at around $0.50 – off from a high of over $0.70. If you had purchased Dogecoin on January 1st and sold it recently you made a killing.
Aziz McMahon, head of emerging market sales at Goldman in London, has said adios to the prominent bank. While McMahon’s LinkedIn page indicates he is still at the firm (after 14 years), it may be a cryptocurrency that was creaeted as a joke that has provided the banker the type of financial security he may have desired when he joined Goldman. If you did not know, Dogecoin is now the 4th most valuable crypto by market cap standing around $65 billion.
Goldman Sachs announces a new crypto trading team in an internal memo snagarajan@businessinsider.com (Shalini Nagarajan)
Goldman Sachs has informed employees of a new cryptocurrency trading desk, the bank confirmed.
It is the first time the US bank has formally acknowledged involvement in crypto-trading.
The crypto team will report to Goldman partner, Rajesh Venkataramani.
Goldman Sachs formally announced the launch of its newly-formed cryptocurrency trading desk to markets employees, according to an internal memo obtained by Insider.
The team has successfully executed two types of bitcoin-linked trades - bitcoin non-deliverable futures and CME BTC futures, the bank said.
Members will report to Goldman partner Rajesh Venkataramani. It will function as part of the bank s global currencies and emerging markets trading team within a division led by the global head of digital assets, Mathew McDermott.
Goldman Sachs announces a new crypto trading team in an internal memo snagarajan@businessinsider.com (Shalini Nagarajan)
Goldman Sachs has informed employees of a new cryptocurrency trading desk, the bank confirmed.
It is the first time the US bank has formally acknowledged involvement in crypto-trading.
The crypto team will report to Goldman partner, Rajesh Venkataramani.
Goldman Sachs formally announced the launch of its newly-formed cryptocurrency trading desk to markets employees, according to an internal memo obtained by Insider.
The team has successfully executed two types of bitcoin-linked trades - bitcoin non-deliverable futures and CME BTC futures, the bank said.
Members will report to Goldman partner Rajesh Venkataramani. It will function as part of the bank s global currencies and emerging markets trading team within a division led by the global head of digital assets, Mathew McDermott.
Goldman Sachs Announces New Crypto Trading Team to Serve Wealth Management Clients gobankingrates.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from gobankingrates.com Daily Mail and Mail on Sunday newspapers.
The crypto team exists within the firm s global currencies and emerging markets trading division, reporting to Goldman partner Rajesh Venkataramani, who wrote the memo, and is part of the bank s overall digital assets effort led by Mathew McDermott.
Goldman Sachs, a dominant global investment bank for trading fixed income and equities, had been mulling the creation of a bitcoin trading desk since at least 2017. The firm tabled those plans initially and restarted the crypto trading team in March, Reuters reported earlier this year. Thursday s memo was the first time New York-based Goldman officially acknowledged its involvement in crytpocurrency trading.
Under CEO David Solomon, Goldman has said it is seeking to broaden its market presence by selectively onboarding crypto trading institutions to expand offerings. The firm also said it launched a new software platform this week that provides the latest cryptocurrency prices and news to clients.