The former president of the Financial Services Committee of the Representatives Chamber, Patrick Mchenry (RN.C.), who retired in January, joined Andreessen Horowitz (A16Z) as the main advisor.
Mchenry announced his new role in the Risk Capital firm based in Silicon Valley in a post of Wednesday X. Mchenry was the interim president of the house for a few weeks in 2023 after former President Kevin McCarthy was expelled.
“For too long, DC has created barriers for new companies and emerging companies. It is time to level the playing field and make sure that the small technology, the next generation of builders, receives a fair shot. As a policy trainer, I promoted solutions that eliminated bureaucratic barriers for American businessmen. In [a16z] I am anxious to continue that job and ensure that policy formulators understand why innovation needs space to prosper, ”Mchenry wrote.
Mchenry spent the last years of his 20-year career in Congress that he advocated the cryptographic industry and built a basis for a crypto-esperained regulatory framework. He compensated for innovation and financial technology for the Law of the 21st Century (FIT21), a draft Market Structure Law that, if approved, would give the Basic Products Trade Commission (CFTC) more power to supervise the cryptographic industry. He also worked with the representative Maxine Waters (D-Calif.) In the Bipartisse of Stablecoin.
Read more: Patrick Mchenry, the legislator who built a basis for the cryptographic legislation of the USA.
Earlier this month, Mchenry joined the Stripe payments giant as the main advisor.
A16Z was one of the largest financiers of Super Pac Fairshake with crypto in the last electoral cycle, contributing approximately $ 70 million. $ 116 million is already dedicated to the next electoral cycle.
