Tyler Winklevoss isn’t holding back. The Gemini co-founder announced that his company will no longer hire graduates from MIT as long as Gary Gensler remains affiliated with the institution.
“As long as MIT has any association with Gary Gensler, Gemini will not hire any graduates from this school,”
Winklevoss posted on X on January 30. He also made it clear that MIT students won’t be considered for Gemini’s summer internship program.
Tension Between Gemini and the SEC
This move stems from Gemini’s long-running issues with the SEC. Back in March 2023, the exchange reached a $21 million settlement with the regulator over accusations that its Gemini Earn program involved the sale of unregistered securities. Genesis, the now-bankrupt firm that partnered with Gemini for the program, was also involved.
At the time, Gensler was leading the SEC’s crackdown on crypto. When he stepped down on January 20, he returned to MIT to focus on research and teaching in financial technology, artificial intelligence in finance, and regulatory policy.
The Industry Reacts
Winklevoss’ stance found support from several industry figures, including Bitcoin advocate Erik Voorhees, who called on other crypto companies to follow Gemini’s lead and boycott MIT graduates until Gensler is gone.
However, not everyone agrees. Axelar Network co-founder Sergey Gorbunov pushed back, arguing that it’s unfair to penalize students for the actions of one professor. He even extended an open invitation to hire MIT graduates himself.
Similarly, Arkham’s head of UK legal, Preston Byrne, criticized the decision, saying that while avoiding law firms that hire former SEC regulators might make sense, blacklisting an entire school’s graduates takes things too far.
Others have suggested a more measured response. Jiasun Li, an associate professor at George Mason University, proposed limiting the boycott to students who actually take Gensler’s courses rather than applying it across the board.
While Gemini’s move has sparked debate, it’s clear that tensions between crypto firms and regulators remain high. Whether other companies follow Gemini’s lead or take a different approach remains to be seen.
Disclaimer: This content does not constitute trading or investment recommendations. It’s essential to conduct your own research before purchasing any cryptocurrency or investing in any services.
