Cryptocurrency is hitting traditional finance? Goldman Sachs managing director resigns after making huge profits from investing in Dogecoin

According to overseas financial headhunting company eFinancialCareers, citing market news, the managing director of Goldman Sachs has resigned from Goldman Sachs after making a fortune by investing in Dogecoin, opening a new chapter in his life of financial freedom.

Are you surprised? Are you surprised?

The boss is named Aziz McMahon, a British man who graduated in 1998. His LinkedIn profile page shows that he has worked in Goldman Sachs' London office for 14 years.

Goldman Sachs and McMahon himself did not comment on the matter, but McMahon's Goldman Sachs colleagues confirmed his departure. According to his colleagues, McMahon may start his own hedge fund company after leaving.

One day in the cryptocurrency world is like one year in the real world. Dogecoin, which was created as a joke at the end of 2013, has performed strongly this year. According to Coinmarketcap data, Dogecoin has risen by more than 146 times so far this year.

Compared with Dogecoin's amazing return on investment, the U.S. stock market seems a bit lackluster. Since the beginning of the year, the Dow Jones Industrial Average has risen by 13.51% and the Nasdaq has risen by 3.98%. Even the stock price of Tesla, the leading electric car company headed by Musk, the former CEO of Dogecoin, has only risen by more than 50% since November last year.

However, Dogecoin began to plummet on May 9, with the price falling from above $0.7 to below $0.43.

Previously, the founder of Grayscale Trust stated that he would short Dogecoin and exchange the money earned from it into Bitcoin.

Isn’t it a coincidence that on the same day on "Saturday Night Live", facing the host's constant questioning, Musk expressed his agreement that Dogecoin is a scam.

Currently, Dogecoin's market value still ranks fourth among cryptocurrencies, second only to Bitcoin, Ethereum and Binance Coin, and surpassing Tether.

In addition to Dogecoin, the currency circle has been frequently experiencing zoo market in recent times. Now, Shiba Inu Coin (SHIB, shit coin) has a great momentum to replace Dogecoin. In the past two months, SHIB has increased by more than 10,000 times, and its total market value has risen to the 17th place in cryptocurrency. As of press time, according to CoinMarketCap data, SHIB has increased by more than 43% in the past 24 hours.

This situation reminds me of what Mr. Li (Li Xiaolai, a big shot in the cryptocurrency circle) once said in a recording: "The consensus of idiots is also a consensus." It seems that everyone must accept this fact. Let me tell you quietly that Mr. Li said as early as 2019 that he had cleared all his bitcoins and said it was a scam. I don't know if he bought any more coins later.

But then again, cryptocurrencies are increasingly intersecting with traditional finance (oh, the cryptocurrency world calls it classical finance).

Goldman Sachs executed its first Bitcoin derivatives transaction on May 7. In addition, according to media reports, UBS is in the early stages of offering cryptocurrency investment programs to its clients.

It is not uncommon for senior executives from traditional financial institutions to join the cryptocurrency world.

Last Friday, Bitcoin service company NYDIG announced that John Dalby, former CFO of Bridgewater Fund, joined its team. Christopher Giancarlo, former chairman of the U.S. Commodity Futures Trading Commission (CFTD), also joined the crypto financial services company BlockFi.