Gemini has decided to stop hiring Massachusetts Institute of Technology (MIT) graduates and interns due to the university’s renewed affiliation with former US Securities and Exchange Commission (SEC) Chair Gary Gensler.
On Jan. 29, Tyler Winklevoss, the exchange’s co-founder, announced the decision on X, stating that Gemini will not consider MIT candidates as long as the institution maintains ties with Gensler.
He wrote:
“As long as MIT has any association with Gary Gensler, Gemini will not hire any graduates from this school. Not even interns for our summer intern program.”
Gemini’s other co-founder, Cameron Winklevoss, also condemned the university’s decision, calling it a misstep. He remarked that bringing Gensler back was a poor choice and labeled him an expert in failed public policies.
Cameron stated:
“Hiring Gary Gensler, the world’s leading expert on public policy failures, was a bad idea.”
MIT recently welcomed Gensler back as a Professor of Practice at its Sloan School of Management. There, he will focus on artificial intelligence, finance, fintech, and public policy.
He will also co-lead the FinTechAI@CSAIL initiative, a research effort within the university’s Computer Science and Artificial Intelligence Laboratory.
Gensler’s return has sparked controversy within the crypto industry, given his history of stringent regulatory actions against the sector during his tenure at the SEC. Critics argue that his approach hindered innovation, making his rehiring at MIT contentious.
Gemini is one of the largest crypto exchanges in the United States, so it is unsurprising that its actions align with growing discontent in the crypto space.
Paradigm co-founder Matt Huang has encouraged MIT-affiliated crypto professionals to reach out, hinting at potential further action against the university.
Caitlin Long, CEO of Custodia Bank, also questioned whether this marks the beginning of a broader industry shift, where firms distance themselves from universities welcoming former regulators accused of stifling lawful innovation.
Long questioned:
“As Gensler returns to MIT, are MIT alums pushing back?? The world has changed—the crypto industry has already urged boycotting of law firms that hired revolving-door ex-govt regulators that attacked the law-abiding industry. Is that about to expand to universities too??”
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