Gemini Bans Hiring MIT Graduates Over Gary Gensler Affiliation

Gemini CEO Tyler Winklevoss has announced that the company will not hire graduates from the Massachusetts Institute of Technology (MIT) as long as the university maintains an affiliation with former U.S. Securities and Exchange Commission (SEC) chair Gary Gensler.

Gensler, who chaired the commission for nearly four years, stepped down from his position and took on a teaching role at the prestigious university to teach research in artificial intelligence in finance, financial technology, and regulatory policy.

“As long as MIT has any association with Gary Gensler, Gemini will not hire any graduates from this school,” Winklevoss posted on X in reaction to Gensler’s return to MIT. The Gemini CEO also announced that the exchange would exclude MIT students from its summer internship program.

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. https://t.co/fi0WMIVCLp

Winklevoss’ public stance has sparked both backing and backlash from key figures in the crypto world. Bitcoin supporter Erik Voorhees has urged other crypto firms, in addition to Gemini, to avoid hiring MIT graduates until Gensler’s affiliation with the university ends.

Every crypto company should boycott MIT grads until Gary is fired. What a way to ruin the reputation of such an illustrious institution!We can use peace and our own market discretion where Gary used coercion and extortion. https://t.co/xAJy0stCW2

“We can use peace and our own market discretion where Gary used coercion and extortion,” Voorhoose wrote. 

Not all industry figures share Winklevoss’ view. Preston Byrne, Arkham’s head of UK legal, criticized the move as over the top, suggesting that while boycotting law firms with SEC enforcers is justifiable, blacklisting graduates from an entire institution is excessive.

Not hiring law firms who employ SEC enforcers is one thing. Not hiring MIT graduates seems like overkill If you're an MIT grad with a law degree who wants to work at a crypto exchange, I will take your call anytime https://t.co/BQG3tfQyXN

“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,” Byrne wrote.

Crypto Community Vs. Gensler

Gemini has had a contentious relationship with the SEC in recent years. This tension began to escalate in 2023 when the SEC accused Gemini of offering unregistered securities through its Gemini Earn program, which allowed users to earn interest on their crypto holdings. As a result, Gemini agreed to settle with the SEC by paying a $21 million fine, although it did not admit to any wrongdoing.

The conflict intensified when Gensler, known for his tough stance on crypto regulation, became a focal point of criticism from Winklevoss. Winklevoss voiced his displeasure over Gensler’s influence, particularly in regard to the SEC’s regulatory approach to the crypto industry.

Moreover, this is not the first instance of the crypto industry taking a stance against individuals affiliated with the SEC. In December 2024, Coinbase severed its relationship with the law firm Milbank following the firm’s hire of former SEC official Gurbir Grewal.

Coinbase CEO Brian Armstrong announced that his company would refrain from collaborating with law firms that employ individuals who, in his view, have attempted to “unlawfully hinder” the crypto industry.

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Michaela has no crypto positions and does not hold any crypto assets. This article is provided for informational purposes only and should not be construed as financial advice. The Shib Magazine and The Shib Daily are the official media and publications of the Shiba Inu cryptocurrency project. Readers are encouraged to conduct their own research and consult with a qualified financial adviser before making any investment decisions.