Cryptocurrency exchange Gemini has announced it will no longer hire graduates from the Massachusetts Institute of Technology (MIT) after the university rehired former U.S. SEC Chairman Gary Gensler as a professor.
Tyler Winklevoss, co-founder of Gemini, announced in a post on X:
“As long as MIT has any association with Gary Gensler, Gemini will not hire any graduates from this school. Not even interns for our summer intern program.”
MIT recently confirmed that Gensler will return to its Sloan School of Management as a Professor of Practice in the Global Economics and Management Group and the Finance Group. He will also be co-director of the FinTechAI program at the university’s Computer Science and Artificial Intelligence Laboratory.
His return to MIT has drawn criticism from several figures in the crypto industry. Devin Walsh, an MIT graduate and executive director of Uniswap, described the university’s decision as “incredibly embarrassing and disappointing” and suggested that students studying financial technology would not benefit from the program.
MIT has produced significant figures in cryptocurrency, such as Bitcoin Foundation co-founder Patrick Murck and former FTX CEO Sam Bankman-Fried. MIT alums have founded at least 54 crypto-related projects, according to RootData.
Gemini’s decision follows a broader trend of crypto firms distancing themselves from institutions linked to regulators influencing U.S. cryptocurrency policy. This was emphasized by Coinbase CEO Brian Armstrong’s December statement about stopping partnerships with firms that hire former SEC officials involved in regulatory actions.
Notably, Gensler’s tenure as SEC chairman was marked by strict regulatory actions against the cryptocurrency industry. He expressed skepticism about the longevity of many cryptocurrency projects, emphasizing the urgent need for more stringent regulations targeting altcoins and intermediaries in the digital asset market. He highlighted that everyday investors continue to face a lack of transparency and adequate disclosures from these entities.
If you want to read more news articles like this, visit DeFi Planet and follow us on Twitter, LinkedIn, Facebook, Instagram, and CoinMarketCap Community.
“Take control of your crypto portfolio with MARKETS PRO, DeFi Planet’s suite of analytics tools.”
