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.
The fund, Ridgeline Partners, was co-founded by Blinken s WestExec and provides strategic insight on U.S. & allied national security capability needs and emerging opportunities to help grow the fund s portfolio, according to the WestExec website.
The fund s website also says that WestExec acts as a strategic partner of Ridgeline s. Another of the advisory firm s co-founders, Nitin Chadda, is the investment co-chair for Ridgeline Partners. Chadda served as senior advisor to the secretary of Defense during Obama s second term.
The companies within Ridgeline s portfolio include data and tech start-ups that have received government contracts, including some deals with the Department of Defense, according to public disclosure reports. Another one of its portfolio companies is partially funded by a nonprofit venture firm that originally was created to assist the Central Intelligence Agency.