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Date: 2025-02-26 15:46:09
Ex-chair of the U.S. House Financial Services Committee, Patrick McHenry (R-N.C.), who left his position in January, has become a senior advisor at Andreessen Horowitz (a16z).
McHenry revealed his new position at the venture capital firm based in Silicon Valley in a post on Wednesday. In 2023, McHenry served as the acting Speaker of the House for a brief period following the removal of former Speaker Kevin McCarthy.
"For an extended period, D.C. has erected obstacles for startups and emerging companies. It's time to establish a level playing field and ensure that Little Tech – the next generation of builders – is given a fair opportunity. As a policy maker, I promoted solutions that eliminated bureaucratic hurdles for American entrepreneurs. At [a16z], I am excited to continue this effort and ensure that policy makers understand why innovation requires room to prosper," McHenry stated.
During the latter part of his 20-year career in Congress, McHenry advocated for the crypto industry and laid the groundwork for a long-awaited crypto regulatory framework. He co-sponsored the Financial Innovation and Technology for the 21st Century Act (FIT21) — a bill focused on market structure that, if passed, would grant the Commodity Futures Trading Commission (CFTC) increased authority over the crypto industry. He also collaborated with Rep. Maxine Waters (D-Calif.) on bipartisan stablecoin legislation.
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More details: Patrick McHenry, the Lawmaker Who Established a Foundation for U.S. Crypto Legislation
This month, McHenry also joined Stripe, the payments giant, as a senior advisor.
A16z was one of the primary contributors to Fairshake, a super PAC that supports crypto, in the previous election cycle, donating around $70 million. It has already committed $116 million for the upcoming election cycle.
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