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Gemini CEO Tyler Winklevoss has made a drastic decision to cut ties with the Massachusetts Institute of Technology (MIT), citing Gary Gensler’s ongoing role as a professor at the prestigious institution. This move comes in response to Gemini’s discontent towards Gensler’s tenure as U.S. Securities and Exchange Commission (SEC) chairman, marked by his aggressive regulatory actions against the cryptocurrency industry.
According to Winklevoss, any association with Gensler is a red flag for the company. “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,” he declared in a tweet.
Winklevoss and other crypto advocates have expressed frustration over Gensler’s actions during his SEC tenure, which included a $21 million settlement with Gemini regarding its Earn program linked to the now-bankrupt Genesis Global Capital. They believe these measures were not mere mistakes but part of a deliberate agenda against the industry’s growth.
The decision by Winklevoss and Gemini has sparked debate within the crypto community, with some arguing that it is unfair to punish MIT students for Gensler’s actions. Many have questioned whether this stance will have any significant impact on the overall regulatory landscape.
Industry reactions to the news are varied, with some voices calling for a broader boycott of MIT graduates. Sergey Gorbunov of Axelar Network, however, emphasized that it is unfair to hold students accountable for their professor’s actions. He believes such actions could harm innocent individuals who may not have any connection to the crypto industry.
In contrast, Preston Byrne, a legal expert at Arkham, acknowledged that while Gensler was indeed detrimental to the industry, he also possesses valuable insights on government workings. This perspective has sparked discussions about the importance of separating Gensler’s past actions from his potential academic contributions.
It remains unclear whether this stance by Winklevoss and Gemini will be a turning point in their relationship with MIT or have any substantial impact on the regulatory environment.
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Source: http://www.crypto-news.net
