A London-based Goldman Sachs director has quit after reportedly making millions from investing in Dogecoin, a meme cryptocurrency that has increased its price by some 10,000 per cent this year.
Aziz McMahon, head of emerging market sales at the US investment bank, resigned after benefiting from the joke digital currency's meteoric growth this year surpassing that of any other cryptocurrency.
City sources claimed McMahon was opening a hedge fund with his cash, according to efinancialcareers, which first reported on his departure. It is unclear how much money Aziz, who had been with the bank for 14 years, had made.
Dogecoin has become a "favourite" digital asset of Tesla chief executive Elon Musk, who refers to himself as the "Dogefather". Musk inadvertently sent the price of the coin on a 30 per cent nosedive over the weekend when he appeared on prime time American television show Saturday Night Live and joked that the coin was just a "hustle".
