Gemini Bans MIT Graduates Following Gary Gensler’s Appointment

Crypto exchange Gemini will stop hiring graduates from the Massachusetts Institute of Technology (MIT) following the university’s appointment of former SEC Chair Gary Gensler as a professor.

Gemini co-founder Tyler Winklevoss announced the hiring ban on X, stating it will apply to all positions, including the company’s summer internship program.

The announcement followed the news that Gensler will return to teach courses focusing on artificial intelligence, finance, fintech, and public policy. This isn’t Gensler’s first role at MIT – he previously taught at the institution from 2018 to 2021 before joining the SEC under the Biden administration.

The pushback comes after years of regulatory actions against crypto companies during Gensler’s SEC tenure. This also includes a $21million settlement with Gemini over its Earn program in March 2024.

Gensler’s SEC legacy and crypto industry impact

Gary Gensler’s time at the SEC left a lasting mark on the crypto industry through a series of enforcement actions and regulatory decisions. During his tenure from 2021 to early 2025, Gensler pushed for stricter oversight of crypto companies, arguing that most digital assets qualified as securities under US law.

The SEC’s actions against Gemini serve as a prime example of Gensler’s regulatory approach. In March 2024, Gemini paid $21m to settle SEC claims that its Earn program constituted an unregistered securities offering.

Tyler Winklevoss has been particularly vocal about Gensler’s impact, stating in a 16 November 2024 tweet: “Gensler’s behavior can’t be explained away as good faith mistakes. It was entirely thought out, intentional, and purposeful to fulfill his personal, political agenda at any cost.” Winklevoss argued that Gensler’s actions resulted in job losses, destroyed billions in invested capital, and damaged the overall crypto industry.

The enforcement actions under Gensler’s leadership weren’t limited to Gemini. During his chairmanship, the SEC led cases against major crypto exchanges, token issuers, and lending platforms, leading to billions in fines and several platform shutdowns.

Crypto industry shows support for Gemini’s decision

Venice.ai founder Erik Voorhees tweeted about the situation: “Every crypto company should boycott MIT grads until Gary is fired. What a way to ruin the reputation of such an illustrious institution.”

The timing of Gensler’s return to MIT comes at an important moment for crypto education. As more universities add blockchain and digital asset courses to their curriculum, the industry’s relationship with academic institutions plays an important role in influencing future talent. MIT has also long been a leader in education and research.

Tyler Winklevoss laid out his stance in his November tweet: “Any company, university, or organization that hires or works with him post-SEC is betraying the crypto industry and should be boycotted aggressively.” He emphasized that this stance aims to prevent similar regulatory approaches in the future.