Gemini announced it will not hire MIT graduates unless the university dismisses former SEC Chair Gary Gensler. This decision has sparked different opinions within the crypto community.
The Conflict Between Gemini and SEC
Gemini's feud with the SEC dates back to March 2024, when the exchange was ordered to pay $21 million in fines to settle claims. The SEC alleged that Gemini sold unregistered securities through its Earn program in partnership with crypto firm Genesis, which has since gone bankrupt.
Crypto Community's Divided Opinions
Industry leaders have expressed mixed reactions to Gemini's stance. On one side, Bitcoin advocate Erik Voorhees believes other crypto companies should also boycott MIT graduates until Gensler is fired. On the other, Arkham's head of UK legal, Preston Byrne, considers this move to be excessive.
CITE_W_A: “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.
Gensler's Return to MIT
Winklevoss's comments follow Gensler's return to MIT as a professor to teach and research AI in finance, financial technology, and regulatory policy. Gensler previously taught at MIT from 2018 until 2021 before being appointed to lead the SEC by the Joe Biden administration.
The conflict between Gemini and MIT over Gary Gensler's academic role highlights divisions within the crypto community, with some supporting a boycott and others deeming it excessive.
