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Gary Gensler, the former Chair of the U.S. SEC, is heading back to academia. He will rejoin the Massachusetts Institute of Technology (MIT) Sloan School of Management as a Professor of Practice in the Global Economics and Management Group and the Finance Group, according to an announcement from the university.
Gensler Gets into New Role
The university reported Gensler’s new role will involve teaching and researching AI, finance, financial technology (fintech), and public policy. Additionally, he will serve as co-director of the FinTechAI@CSAIL initiative at MIT’s Computer Science and Artificial Intelligence Laboratory (CSAIL).
This initiative led alongside MIT Professor Andrew W. Lo, will bring together industry experts and researchers to explore the impact of AI on financial markets.
Gensler’s Public Sector and Wall Street Experience
Gensler has had an extensive career in both the public and private sectors. Before his time at MIT, he was a partner at Goldman Sachs, where he gained deep financial market expertise.
His government career includes serving as Chairman of the Commodity Futures Trading Commission (CFTC) under the Obama administration, where he led efforts to reform the $400 trillion swaps market following the 2008 financial crisis.
Gensler was appointed as SEC Chair by President Joe Biden in April 2021. During his tenure, he was responsible for overseeing the $120 trillion U.S. capital markets, focusing on regulatory enforcement, crypto market oversight, and investor protection.
“I am honoured to return to MIT, whose faculty, staff, and students have long been at the cutting edge of research and technology,” Gensler said upon his appointment.
“I’m thrilled to once again collaborate with MIT’s distinguished team of scholars to create a better future for all through artificial intelligence, finance, and technology.”
Also Read: Coinbase CEO Slams Gensler & Warren’s “Unlawful” Crypto Crackdown, Backs Deaton For Massachusetts
A Tough Stance on Crypto Regulation
Gensler’s return to MIT comes after a controversial tenure at the SEC, where he was known for his aggressive stance on cryptocurrency regulation.
Under his leadership, the SEC launched numerous lawsuits against major crypto firms, including Ripple, Binance, and Coinbase, arguing that many digital assets were unregistered securities. His policies created a climate of uncertainty, making it difficult for crypto companies to operate in the U.S. without facing legal action.
Even in his final days at the SEC, Gensler’s approach remained unchanged. According to reports, the SEC is expected to reject applications for spot Solana (SOL) ETFs. Journalist Eleanor Terrett of FOX Business revealed that the regulator had privately informed at least two ETF issuers that their 19b-4 filings would not be approved. This move signals the SEC’s ongoing resistance to broader crypto adoption in traditional financial markets.
Such was the backlash against Gensler that Tyler Winklevoss, co-founder of Gemini, launched a scathing attack against him on social media. In a series of posts on the X platform (Twitter), Winklevoss accused Gensler of stifling innovation and intentionally hindering the growth of the U.S. crypto industry.
What’s Next for Gensler?
At MIT, Gensler will shift his focus from regulating markets to shaping the future of AI and fintech. His return marks a full-circle moment, as he first joined the university in 2018, before leaving to take on the SEC role.
Also Read: Bitwise CIO Predicts $500B Stablecoin Market After Gensler’s Exit