Gemini Declares War on MIT Over Gensler Controversy

This move comes as a backlash against Gary Gensler’s tough stance on crypto regulation during his time at the SEC.

As long as @MIT has any association with Gary Gensler, @Gemini will not hire any graduates from this school,

Tyler Winklevoss posted on X on January 30. 2025.

The decision has set off a firestorm of debate—some in the crypto space back the boycott, while others believe it’s going too far.

Gemini vs. SEC — A Conflict Fueled by Gensler’s Legacy

The tensions between Gemini and the SEC date back to March 2023, when the exchange paid a hefty $21 million fine over claims of selling unregistered securities via its Gemini Earn program.

The lawsuit bore Gensler’s signature, as he led the SEC until January 20, 2025, stepping down when a new administration took control.

Now, Gensler is back where it all began—MIT—where he’ll teach AI in finance, fintech, and regulation, shaping the very field he once sought to regulate.

MIT Boycott Sparks Heated Crypto Debate

Bitcoin advocate Erik Voorhees jumped into the fray, urging crypto companies to join Winklevoss’s MIT boycott over Gensler’s return.

But not everyone’s on board.

• Axelar Network’s Sergey Gorbunov argued that students shouldn’t be collateral damage and encouraged hiring MIT grads.
• Preston Byrne (head of legal at Arkham UK) also opposed the move, slamming the move as an unnecessary escalation.

Gemini isn’t the first to take a stand. Coinbase made a similar move, ditching the law firm Milbank after it brought in former SEC official Gurbir Grewal.

Coinbase CEO Brian Armstrong has been clear on his position: crypto companies shouldn’t work with those who once tried to “unlawfully kill” the industry.

Winklevoss Declares War on Gensler: “Crypto’s Greatest Betrayal”

Tyler Winklevoss has never been shy about his disdain for Gary Gensler, but in November 2024, he took it up a notch—calling him “evil” and accusing him of using government power for political warfare, crippling the crypto industry in the process.

No amount of apology can undo the damage he has done,

Winklevoss wrote.

He made his stance clear: any company that hires Gensler is turning its back on crypto—and deserves to be boycotted.

With new leadership at the SEC and crypto’s influence growing, regulations could start loosening up. But Gemini’s bold move against MIT proves one thing—the tension between crypto and regulators is still running deep, and this fight is far from over.