Gemini Joins Coinbase To Reject SEC Veterans In Crypto Industry

Tyler Winklevoss, co-founder of cryptocurrency exchange Gemini, has stated that his company will adopt the same policy as Coinbase, cutting ties with any law firm or entity that hires former Security and Exchange Commission (SEC) officials. of the US associated with alleged exaggerations against the digital asset industry.

His decision comes on the heels of recent comments from Coinbase CEO Brian Armstrong, where he criticized law firms and industry stakeholders for welcoming former SEC employees involved in anti-crypto policies.

Tyler Winklevoss expands on Armstrong’s message

In a Nov. 5 post on X, Winklevoss called for a “running list” of SEC officials involved in what he described as an “illegal war on crypto,” vowing to do the same to Gemini as Armstrong had done on Coinbase.

The Coinbase executive’s strong position led his company to cut ties with global law firm Milbank after it hired former SEC enforcement director Gurbir Grewal.

The lawyer, who played a central role in more than a hundred enforcement actions, resigned just before the SEC’s appeal in its high-profile case against Ripple. At the time, legal experts questioned why he had chosen that particular moment to jump ship, and some speculated that it signaled discord within the agency.

The broader crypto community also scrutinized the SEC’s tactics, with critics such as attorney Jeremy Hogan arguing that its appeal in the Ripple case risked backfiring, potentially weakening its regulatory influence over the industry.

Armstrong had accused the financial watchdog’s leadership of trying to stifle the crypto sector through unclear regulations and enforcement actions. He argued that senior officials who did not resign during that term are responsible for the SEC’s controversial tactics.

He further emphasized that while he did not support “permanently firing people,” he believed that those who contributed to the regulatory agency’s overreach should not be allowed to benefit financially from the crypto industry.

Justin Sun offered to hire Gary Gensler

Tron founder Justin Sun previously proposed a job offer to outgoing SEC chairman Gary Gensler following Donald Trump’s victory in November.

During his campaigns, Trump made several promises to the crypto community, including getting rid of Gensler on his first day in office. With speculation surrounding the future of the highly unpopular regulator, Sun shared its willingness to hire Gensler in an unspecified capacity, as long as the former MIT professor treated the crypto industry with sincerity.

However, the actions of Winklevoss and Armstrong may be an indicator that not all players in the industry are ready to let things go; instead, they are trying to create accountability within legal and regulatory spaces.

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