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Gemini says it will not be hiring any graduates from the Massachusetts Institute of Technology (MIT) unless the university drops former US Securities and Exchange Commission (SEC) Chair Gary Gensler from his recently-appointed teaching role.
“As long as MIT has any association with Gary Gensler, Gemini will not hire any graduates from this school,” said Tyler Winklevoss, a co-founder of Gemini and the company’s CEO, in a post on X today.
Crypto Community Divided Over The Approach Taken By Gemini
Gemini’s feud with the SEC goes back to around March 2024, when the exchange was ordered to pay $21 million in fines in order to settle claims made by the financial regulator.
In the lawsuit, the SEC said that Gemini sold unregistered securities through its Earn program in partnership with Genesis, a crypto firm that has since gone bankrupt.
This enforcement action was carried out when Gensler was the Chair of the SEC. He stepped down on Jan. 20.
Industry leaders seem divided over the action being taken by Gemini. On one hand, Bitcoin advocate Erik Voorhees says that other crypto companies should boycott MIT graduates until Gensler is fired.
On the other, Arkham’s head of UK legal Preston Byrne believes not hiring MIT graduates because of Gensler is “overkill.”
I actually think a university is a perfectly fine place for Gensler to land. Was he bad for our industry? Yes. Will he be able to teach students a hell of a lot about how government works? Also yes
— Preston Byrne (@prestonjbyrne) January 30, 2025
Gary Gensler Returns To MIT As A Professor
The comment from Winklevoss comes after the former SEC Chair returned to MIT as a professor to teach and research artificial intelligence (AI) in finance, financial technology and regulatory policy, according to a Jan. 27 announcement by the university. MIT added that Gensler will also be co-directing the university’s FinTech AI @CSAIL initiative.
Gensler previously taught at MIT between from 2018 until 2021 before the then Joe Biden administration picked him to lead the SEC.
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