Goldman MD Quits After Making Fortune Off Dogecoin

zerohedge2021-05-13

In a story that captures the impact that cryptocurrencies - created by Satoshi Nakamoto to "disrupt" the practice of central banking - have had on the world of finance, a managing director at Goldman ...

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Comments

Dawang
2021-05-14
Dawang
"Quitting while U are ahead, is not the same as quitting" - American Gangster [財迷]
Bulbul
2021-05-13
Bulbul
Doge doge doge, everywhere I go I always see doge
KryZ
2021-05-13
KryZ
What irony! Big Banks warn investors abt cryptocurrency yet dabble on the side.
Prosperity88
2021-05-13
Prosperity88
?
MajorJackpot
2021-05-13
MajorJackpot
Smart!
- sarahtjm:
  yea
Benstonk
2021-05-13
Benstonk
Comment doge for doge
- sarahtjm:
  doge

Leave a comment

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The exact size of McMahon's alleged crypto-fortune wasn't disclosed, other than the fact that he made \"millions of dollars\". The cryptocurrency is up more than 1,00% in 2021, though it has fallen more than 30% since the start of the week, and was recently trading at 47 cents.\nThe Irish Times later identified McMahon as a native of Ireland and a Trinity College Dublin graduate. The banker is in his 40s, and worked at Goldman for the last 14 years. It's believed McMahon traded crypto solely for his own account, and wasn't involved in the business at the firm, which recently revived plans to launch acrypto trading desk.\nThough it's not clear when McMahon first invested in Doge, or what he plans to do with his winnings, though efinancialcareers reported that he was possibly considering starting a hedge fund.\nHere's morefrom them:\n\n Neither Goldman Sachs nor McMahon immediately responded to a request to comment on his exit, but colleagues confirmed his departure. It's thought that he may be starting a hedge fund. His move comes after Elon Musk said he plans a Dogecoin-funded space mission next year, and while banks are slowly getting their crypto credentials on the table. Goldman Sachs executed its first bitcoin derivative trades last week and UBS is reportedly in the early stages of making digital currency investments available to clients.McMahon isn't alone in heeding the call of crypto. Luyi Zhang, a former senior quantitative analyst at Bank of America in New York has just joined Coinbase as a senior software engineer. Jesse Bornstein, who launched Nomura's trade finance business in New York recently quit to become VP of institutional sales at Stakehound, a company that issues tokens allowing owners access to decentralized finance.\n\nCoinciding with the worst selloff in doge since the start of its remarkable runup this year, news of the executive's decision to resign with his \"f**k you\" crypto money quickly captivated the attention of social media users, while many seized the opportunity to try and pump. Doge is down more than 30% so far this week.\nGoldman has long been admired for its ability to do two things: remain one step ahead of the market, while distributing much of the wealth it generates inside to employees. Here's an example of one employee doing both.","kind":"news","is_publish_news":false,"is_publish_highlight":true,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[{"id":198118412,"gmtCreate":1620945984336,"gmtModify":1704350768750,"author":{"id":"3579482809178950","authorId":"3579482809178950","name":"Dawang","avatar":"https://static.tigerbbs.com/d0f01f2346125f600328ffd48beb3a4c","vip":1,"hat":"https://static.tigerbbs.com/b0a2963eb37c60c5d6d4a8dbcd266952","crmLevel":4,"crmLevelSwitch":0,"idStr":"3579482809178950","authorIdStr":"3579482809178950"},"htmlText":"\"Quitting while U are ahead, is not the same as quitting\" - American Gangster&nbsp;[財迷]&nbsp;","listText":"\"Quitting while U are ahead, is not the same as quitting\" - American Gangster&nbsp;[財迷]&nbsp;","text":"\"Quitting while U are ahead, is not the same as quitting\" - American Gangster [財迷]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/198118412","repostId":1120054088,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"CN"},{"id":191766100,"gmtCreate":1620908858100,"gmtModify":1704350259683,"author":{"id":"3577251545430244","authorId":"3577251545430244","name":"Bulbul","avatar":"https://static.tigerbbs.com/faf2ebfa43184b2844994ea9a52cddf9","vip":1,"hat":"https://static.tigerbbs.com/b0a2963eb37c60c5d6d4a8dbcd266952","crmLevel":5,"crmLevelSwitch":0,"idStr":"3577251545430244","authorIdStr":"3577251545430244"},"htmlText":"Doge doge doge, everywhere I go I always see doge&nbsp;","listText":"Doge doge doge, everywhere I go I always see doge&nbsp;","text":"Doge doge doge, everywhere I go I always see doge","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/191766100","repostId":1120054088,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":191791586,"gmtCreate":1620905369745,"gmtModify":1704350202968,"author":{"id":"3574671514316116","authorId":"3574671514316116","name":"KryZ","avatar":"https://community-static.tradeup.com/news/8657f0cc14de942f5047d99219cd2d75","vip":1,"crmLevel":3,"crmLevelSwitch":0,"idStr":"3574671514316116","authorIdStr":"3574671514316116"},"htmlText":"What irony! Big Banks warn investors abt cryptocurrency yet dabble on the side.","listText":"What irony! Big Banks warn investors abt cryptocurrency yet dabble on the side.","text":"What irony! Big Banks warn investors abt cryptocurrency yet dabble on the side.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/191791586","repostId":1120054088,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":191708986,"gmtCreate":1620904760945,"gmtModify":1704350192129,"author":{"id":"3569644599778803","authorId":"3569644599778803","name":"Prosperity88","avatar":"https://static.tigerbbs.com/673e75041219828ee5fce0d5b00ebbfe","vip":1,"crmLevel":6,"crmLevelSwitch":1,"idStr":"3569644599778803","authorIdStr":"3569644599778803"},"htmlText":"?","listText":"?","text":"?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/191708986","repostId":1120054088,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":191441107,"gmtCreate":1620903001009,"gmtModify":1704350161871,"author":{"id":"3571016679890290","authorId":"3571016679890290","name":"MajorJackpot","avatar":"https://static.tigerbbs.com/8e3167dc36bc3dc440bfc86312381fbb","vip":1,"crmLevel":2,"crmLevelSwitch":0,"idStr":"3571016679890290","authorIdStr":"3571016679890290"},"htmlText":"Smart!","listText":"Smart!","text":"Smart!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/191441107","repostId":1120054088,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":4313975,"gmtCreate":1620903901545,"gmtModify":1680788529116,"authorId":3581813176999956,"author":{"id":3581813176999956,"idStr":"3581813176999956","authorId":3581813176999956,"name":"sarahtjm","avatar":"https://static.tigerbbs.com/20cc01856142071ebc599ac7b6395c13","vip":1,"crmLevel":2,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":191441107,"type":1,"supId":0,"prevId":0,"content":"<u>yea</u>","text":"<u>yea</u>","html":"<u>yea</u>"}],"langContent":"EN"},{"id":191454998,"gmtCreate":1620902395414,"gmtModify":1704350152971,"author":{"id":"3574851080358491","authorId":"3574851080358491","name":"Benstonk","avatar":"https://static.tigerbbs.com/c8a964cfa9223e4704989c9a4b9b772e","vip":1,"crmLevel":3,"crmLevelSwitch":1,"idStr":"3574851080358491","authorIdStr":"3574851080358491"},"htmlText":"Comment doge for doge","listText":"Comment doge for doge","text":"Comment doge for doge","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/191454998","repostId":1120054088,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":4313971,"gmtCreate":1620903881284,"gmtModify":1680788527789,"authorId":3581813176999956,"author":{"id":3581813176999956,"idStr":"3581813176999956","authorId":3581813176999956,"name":"sarahtjm","avatar":"https://static.tigerbbs.com/20cc01856142071ebc599ac7b6395c13","vip":1,"crmLevel":2,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":191454998,"type":1,"supId":0,"prevId":0,"content":"<u>doge</u>","text":"<u>doge</u>","html":"<u>doge</u>"}],"langContent":"EN"}],"isCommentEnd":false,"newsSizeData":{"likeSize":23,"commentSize":8,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.3","shortVersion":"4.29.3","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/1120054088"}