Crypto Chaos: MIT’s Gensler Rehire Sparks Outrage and Boycotts! 🚀

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In a twist that could only be described as a cosmic joke, the Massachusetts Institute of Technology has decided to welcome back Gary Gensler, the former Chair of the Securities and Exchange Commission (SEC), who is about as popular in the crypto world as a wet sock at a picnic. 🎉

Once a humble professor at MIT, Gensler’s return has sent shockwaves through the crypto community, which is now protesting like it’s the end of the universe as they know it. His previous stint at the SEC was marked by a regulatory approach so strict that it made the Galactic Empire look like a bunch of laid-back hippies. 🌌

MIT’s Grand Reopening: Gensler Edition

On the 27th of January, MIT announced that Gensler was back, just a week after he left his post at the SEC. This news was met with uproar from crypto leaders who are convinced that Gensler’s regulatory reign was akin to throwing a wet blanket on a bonfire of innovation. 🔥

Tyler Winklevoss, co-founder of the Gemini crypto exchange and part-time Olympic rower, took to X (formerly Twitter) to express his discontent. He declared that as long as Gensler was associated with MIT, his company would not hire any graduates from the institution. Not even for the coveted summer intern program, which is basically the Holy Grail for students. 🏆

“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.”

Following this, other crypto figures joined the chorus of disapproval, including Eric Voorhees, who suggested that all crypto companies should boycott MIT graduates until Gensler is shown the door. Because nothing says “we care” like punishing students for the actions of their professors. 🙄

“Every crypto company should boycott MIT grads until Gary is fired. What a way to ruin the reputation of such an illustrious institution!” said Voorhees.

He argued that since Gensler had wielded regulatory power against crypto like a lightsaber in a dark alley, the industry needed to respond with peaceful, market-based decisions. However, not everyone was on board with this boycott. Some pointed out that punishing students for the university’s decisions is about as fair as blaming a toaster for burning your toast. 🍞

Legal expert Sarah Shtylman dismissed the boycott as “absurd” and a prime example of “cancel culture gone dumb.” Meanwhile, Fox Business reporter Eleanor Terrett was left pondering whether Gensler’s views on crypto would magically transform now that he’s back in academia, as if he’d suddenly discovered the joys of blockchain over a cup of coffee. ☕

The Boycott Chronicles

This isn’t Winklevoss’s first rodeo with boycotts. Last December, after Coinbase CEO Brian Armstrong severed ties with a law firm that hired a former SEC commissioner, Winklevoss declared that Gemini would stop doing business with any law firms that dared to associate with SEC veterans. Because why not make life more complicated for everyone involved? 🤷‍♂️

Despite the uproar, MIT has yet to indicate whether it will reconsider its decision to rehire Gensler. Perhaps they’re waiting for the universe to align in a way that makes sense. Or maybe they just enjoy the drama. 🎭

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2025-01-31 01:30