Former chairman of the US House Financial Service Committee Patrick Mchenry (RN.C.), who retired in January, has joined Andreessen Horowitz (A16Z) as a senior adviser.
Mchenry announced his new role in the Silicon Valley-based venture capital company in a Wednesday X Post. Mchenry was the functioning speaker in the house for a few weeks in 2023 after the former speaker Kevin McCarthy was removed.
“For too long, DC has created barriers to startups and new businesses. It’s time to smooth the rules of the game and ensure that Little Tech – the next generation of builders – gets a fair shot. As a policy producer, I promoted solutions that removed bureaucratic barriers to American entrepreneurs. On [a16z] I am eager to continue this work and ensure that decision makers understand why innovation needs space to thrive, ”Mchenry wrote.
Mchenry spent the last few years of his 20-year career in Congress, who spoke to the crypto industry and is building a foundation for a long-awaited crypto-regulation frame. He sponsored the economic innovation and technology for the 21st century law (Fit21) -A market structure bill which, if adopted, would give Commodity Futures Trading Commission (CFTC) more power to oversee the crypto industry. He also worked with rep. Maxine Waters (D-California) on Bipartisan StableCOin law.
Read more: Patrick Mchenry, the legislator who built a foundation for American crypto -acquisition legislation
Earlier this month, Mchenry joined the payment giant Stripe as a senior adviser.
A16Z was one of the largest finance of crypto -friendly Super Pac Fairshake in the last election cycle, which contributed approx. 70 million dollars. It’s already dedicated $ 116 million to the next election cycle.
