Gemini’s Decision to Stop Hiring MIT Graduates and Interns
Gemini has made a bold move by announcing that they will no longer be considering Massachusetts Institute of Technology (MIT) graduates and interns for employment opportunities. This decision comes as a result of MIT’s renewed affiliation with former US Securities and Exchange Commission (SEC) Chair Gary Gensler.
Reason Behind the Decision
Tyler Winklevoss, the co-founder of Gemini, took to X to share the news on Jan. 29. He stated that as long as MIT maintains ties with Gensler, Gemini will not be hiring any candidates from the institution. This includes not considering interns for their summer intern program.
Strong Reaction from Gemini’s Co-Founders
Co-founder Cameron Winklevoss also expressed his disapproval of MIT’s decision to bring Gensler back. He criticized the move, referring to it as a misstep and labeling Gensler as an expert in failed public policies.
Gensler’s Return to MIT
MIT recently welcomed Gensler back as a Professor of Practice at its Sloan School of Management. His focus areas include artificial intelligence, finance, fintech, and public policy. Gensler will also co-lead the FinTechAI@CSAIL initiative within the university’s Computer Science and Artificial Intelligence Laboratory.
Controversy in the Crypto Industry
Gensler’s return to MIT has sparked controversy within the crypto industry due to his history of stringent regulatory actions against the sector during his time at the SEC. Critics argue that his approach hindered innovation, making his rehiring at MIT a contentious move.
Industry Response
Paradigm co-founder Matt Huang has encouraged MIT-affiliated crypto professionals to take action, hinting at potential repercussions for the university. Similarly, Caitlin Long, CEO of Custodia Bank, raised concerns about a possible industry shift where firms distance themselves from universities welcoming former regulators accused of stifling lawful innovation.