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Gemini says it will not be hiring any graduates from the Massachusetts Institute of Technology (MIT) unless the university drops former US Securities and Exchange Commission (SEC) Chair Gary Gensler from his recently-appointed teaching role. “As long as MIT has any association with Gary Gensler, Gemini will not hire any graduates from this school,” said Tyler Winklevoss, a co-founder of Gemini and the company’s CEO, in a post on X today.  Crypto Community Divided Over The Approach Taken By Gemini Gemini’s feud with the SEC goes back to around March 2024, when the exchange was ordered to pay $21 million in fines in order to settle claims made by the financial regulator. In the lawsuit, the SEC said that Gemini sold unregistered securities through its Earn program in partnership with Genesis, a crypto firm that has since gone bankrupt. This enforcement action was carried out when Gensler was the Chair of the SEC. He stepped down on Jan. 20. Industry l...

Gemini is planning to file a new motion with the court seeking the return of $1.1 billion of digital assets from DCG-owned Genesis. Troubled cryptocurrency exchange Gemini is considering a forbearance option against the Digital Currency Group (DCG), which missed a $630 million re payment last week. When a lender grants forbearance , the borrower can temporarily reduce its mortgage payment or temporarily stop making payment s. The borrower must subsequently pay the reduced or paused payment s. In its updated response, Gemini claimed that the forbearance consideration would be partly based on whether DCG will engage in good-faith negotiations on a consensual deal. If an agreement cannot be reached among the involved parties, Gemini plans to work with DCG-owned Genesis Capital to suggest terms for an amended plan of reorganization that could be advanced without DCG’s consensual participation. On May 19, Genesis also filed a motion with the bankruptcy court seeking to extend its peri...