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Gemini Bans Hiring MIT Graduates Over Ties to Gary Gensler

As Gary Gensler returned to an academic role, Gemini said that no MIT graduate would be hired in the company, even as an intern.

Tyler Winklevoss, co-founder at Gemini, one of the leading crypto exchanges in the United States, has implemented a new hiring policy that bans recruiting graduates from the Massachusetts Institute of Technology (MIT). The decision stemmed from growing tensions between the company and Gary Gensler, the former chairman of the U.S. Securities and Exchange Commission (SEC), who is currently a professor at the private university.

Gemini’s decision is also tied to its increasing frustration with Gensler’s regulatory stance on digital assets, which many in the crypto community have seen as unfavorable. The former SEC Chief, who assumed the role of SEC Chairman in 2021, has been an outspoken critic of the crypto industry, calling for tighter regulations and scrutiny over the sector’s operations.

For now, the institution has yet to comment on the situation, though its alumni network includes several prominent figures in the crypto industry.

Gary Gensler Now Teaches? 

The latest announcement came as Gensler joined MIT. According to the institution, he will join the university as a Professor of Practice in the Global Economics and Management Group, jointly with the Finance Group. Gensler will also co-direct the FinTechAI@CSAIL initiative within MIT’s Computer Science and Artificial Intelligence Laboratory with Professor Andrew W. Lo.

In his role as professor, the program aims to enable participating companies to partner with leading MIT researchers to explore emerging AI technologies, uncover new opportunities, tackle technical challenges, and examine potential applications within the finance sector. 

Lawmakers Question Gensler

During his tenure as the U.S. SEC chief, his consistent actions regarding crypto-related matters led to U.S. lawmakers questioning his stance on crypto regulation.

During the hearing, Minnesota Republican Tom Emmer grilled Gensler on the SEC’s handling of a case involving the crypto startup DEBT Box. Before the hearing in March, a federal judge in Utah slammed the SEC’s conduct in the case, ruling that the agency had acted in bad faith. As a result, the SEC was ordered to pay sanctions, including attorney fees and other costs.

Chris Lion