Cryptocurrency exchange Gemini announced it will stop hiring MIT graduates following Gary Gensler's return as a professor.
Gemini's Decision
Gemini co-founder Tyler Winklevoss stated that the company will not hire MIT graduates as long as the university has any association with Gensler. Winklevoss made this statement in a post on the X platform.
Gensler's Return to MIT
MIT confirmed that Gary Gensler will return to the Sloan School of Management as a Professor of Practice. He will also co-direct the FinTechAI program at the university’s CSAIL. Gensler's return has sparked criticism within the crypto community.
Reaction from the Crypto Industry
Many in the crypto industry have responded negatively to MIT's decision. Devin Walsh, an MIT graduate and executive director of Uniswap, described the decision as "incredibly embarrassing and disappointing." He also expressed that students studying financial technology might not benefit from the program.
Gemini's decision highlights a trend among crypto firms distancing themselves from institutions linked to U.S. regulatory agencies. This approach mirrors strategies by companies like Coinbase, which avoid partnerships with firms hiring former SEC officials.
