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Tyler Winklevoss, co-founder and CEO of crypto exchange Gemini, made headlines with a strong statement saying the company will no longer hire anyone from MIT while former Securities and Exchange Commission (SEC) Chair Gary Gensler is at the institution. 
An Unyielding Position on Gensler’s Academic Job
On Jan. 30, Winklevoss posted to the social media platform X, saying,
“As long as MIT has any association with Gary Gensler, Gemini will not be hiring any graduates of this school.”
He also noted that this same policy is applied to Gemini’s summer internship program, which means MIT students will not have the opportunity for the summer. ([cointelegraph. [link to source](https://cointelegraph.com/news/gemini-wont-hire-mit-graduates-gary-gensler-teaching-role?utm_source=chatgpt).
Gemini vs. The SEC
The action stems from a history of conflict between Gemini and the SEC. In March, Gemini settled allegations that it had been selling unregistered securities through its Gemini Earn program, in partnership with the now-failed crypto firm Genesis, by agreeing to pay $21 million in fines. All these enforcement actions were brought under Gensler during his tenure as chairman of the SEC.
Gensler Returns to MIT
After leaving the SEC on Jan. 20, on the same day that President Donald Trump was inaugurated, Gensler went back to MIT, an institute of higher education, as a professor. His specialties include artificial intelligence in finance, financial technology, and regulatory policy. The return, however, has drawn criticism from some corners of the crypto community.
Mixed Responses From the Crypto Community
Winklevoss’s announcement drew responses from across the spectrum. Bitcoin proponent Erik Voorhees endorsed the action, saying that
“Every crypto company should boycott MIT grads until Gary is fired.”
Others, including Axelar Network’s Sergey Gorbunov, countered against punishing students for faculty action, saying they would hire MIT graduates.
A Wider Industry Trend
This action is one of many points in a large pattern across the crypto space, in which companies take a stand against individuals and institutions they perceive as transformative or antagonistic. For example, Coinbase ended its relationship with the law firm Milbank after the firm hired former SEC official Gurbir Grewal. Coinbase CEO Brian Armstrong took a firm stand against working with companies hiring people who have tried to “illegally kill” the industry.
What This Means For MIT and the Crypto Sector
It will be interesting to see how MIT responds and if other crypto firms will follow suit. The implications concerning the relationship between educational institutions and the crypto industry as a whole have yet to be fully realized.
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Frequently Asked Questions
Why is the cryptocurrency exchange not recruiting these university graduates?
The exchange’s CEO said they won’t hire graduates as long as the institution employs the former SEC chair. The move is also related to its regulatory record following earlier enforcement actions it took against the firm, which it claims harmed the crypto realm.
What disagreement exists between the exchange and the former SEC chair?
That dispute is driven by steps the SEC, under his guidance, has taken to police the sector. The company was fined heavily for what it claimed were breaches of the law, and he was accused of unfairly targeting the digital asset sector and its businesses in enforcement actions.
What’s your take on the hiring ban?
Reactions are mixed. The argument in favor Some agree with those perspectives, saying crypto firms should fight back against regulators. Others contend it’s unfair to block graduates from opportunities, proposing that the action should target firms hiring former SEC staff instead.
Will other firms in the industry follow suit?
And although no other firms have imposed such a hiring ban, companies have previously sought to avoid work with organizations that employed regulatory officials. The developments underscore rising tensions between digital asset firms and financial regulators establishing the rules for the industry.
