Gemini CEO Freezes MIT Hiring Over Gensler Ties

Gemini CEO Tyler Winklevoss has announced a hiring freeze for MIT graduates and interns, citing the university's association with former SEC Chair Gary Gensler. Winklevoss, co-founder of the Gemini cryptocurrency exchange, took to social media platform X to express his discontent, stating that as long as MIT maintains any connection with Gensler, Gemini will not hire graduates or interns from the institution.

Gensler, who is known for his aggressive stance against the crypto industry during his tenure at the SEC, has recently returned to MIT as a professor and co-director of FinTechAI at the university's Computer Science and Artificial Intelligence Laboratory. Winklevoss' decision to halt hiring from MIT comes amidst ongoing tensions between the crypto sector and regulatory figures, with many industry players labeling Gensler as antagonistic towards crypto.

Gemini is not the first crypto firm to take a stand against institutions associated with former officials linked to the Biden Administration. In early December, Coinbase announced that it would stop working with firms that hire people linked to the Biden Administration's "bad deeds" after law firm Skadden, Arps, Slate, Meagher & Flom LLP hired ex-SEC chief Gurbir Grewal as a partner.

The crypto industry's reaction to Gensler's return to MIT has been mixed. While some industry figures support Winklevoss' boycott, others argue that students should not be penalized for the actions of their alma mater. UniSwap executive and MIT graduate Devin Walsh expressed her disappointment, stating that joining the program would be a waste of time, tuition funds, and energy for students hoping to learn about new technologies in the finance field.

As the intersection of academia, regulation, and the cryptocurrency industry becomes a focal point of debate, the outcomes could likely have lasting implications for both sectors. The future relationship between crypto entities and such institutions remains uncertain, but significant implications for both sectors are likely to emerge.