Winklevoss made the announcement on social media, stating:
“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.”

The decision highlights the lingering animosity within the crypto industry toward Gensler, who stepped down from his role as SEC chair on the day of President Donald Trump’s inauguration. Many in the industry celebrated his departure, viewing his tenure as an era of aggressive regulatory overreach that stifled innovation.

Gensler’s SEC Legacy: $6 Billion in Crypto Fines

Under Gensler’s leadership, the SEC ramped up its enforcement efforts, imposing more than $6 billion in fines against crypto firms. Research from Cornerstone Research shows that enforcement actions quadrupled during his tenure, with the number of actions against the crypto industry increasing by 80% compared to his predecessor.

Gensler’s approach, often described as “regulation by enforcement”, led to major lawsuits against some of the biggest names in crypto, including Ripple, Coinbase, and Binance. His tenure became a major political issue, with Trump promising at the Bitcoin 2024 conference that he would fire Gensler on “day one”—a statement that drew cheers from the crowd.

Republican House Majority Whip Tom Emmer bid Gensler farewell with a “Good riddance” post, while Massachusetts politician John Deaton responded with a defiant emoji.

Gensler Returns to MIT, But Faces Industry Backlash

Following his exit from the SEC, Gensler returned to MIT, where he now teaches courses on AI and fintech. Prior to his government role, he was a senior advisor to the MIT Media Lab Digital Currency Initiative, making his return unsurprising.

However, Winklevoss’ refusal to hire MIT graduates sends a clear signal that Gensler’s regulatory legacy still casts a long shadow over the crypto industry.

For MIT students considering careers in crypto and blockchain, Gemini’s decision raises concerns about future job prospects. It also challenges the university’s reputation, as industry leaders begin questioning whether Gensler’s presence is damaging MIT’s standing in the crypto world.

Will More Crypto Companies Follow Gemini’s Lead?

While Gemini is the first to announce a boycott, it remains to be seen whether other crypto firms will take similar action against MIT. Given the widespread dissatisfaction with Gensler’s regulatory approach, it wouldn’t be surprising if more industry leaders adopt similar hiring policies.

For now, Tyler Winklevoss has drawn a line in the sand, making it clear that MIT’s continued association with Gensler comes at a cost. Whether this move will pressure the university or lead to further division between the academic and crypto worlds remains to be seen.