Gemini Says It Won’t Hire MIT Grads Until Former SEC Chair Gary Gensler Is Ousted

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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