The former president of the US Financial Services Committee, Patrick MCHENRY (RN.C.), who retired in January, joined Andreessen Horowitz (A16Z) as main advisor.
MCHENRY announced its new role in the venture capital company based at Silicon Valley in a post on Wednesday X. MCHENRY was the acting president of the room for a few weeks in 2023 after the former president Kevin McCarthy was ousted.
“For too long, DC has created barriers for startups and emerging companies. It’s time to level out the rules of the game and ensure that small technology – the next generation of manufacturers – gets a fair blow. As a political creator, I promoted solutions that have removed bureaucratic obstacles for American entrepreneurs. HAS [a16z] I can’t wait to continue this work and make sure that political decision -makers understand why innovation needs room to prosper, ”wrote Mchenry.
MCHENRY has spent the last years of his 20 -year career at Congress pleading for the cryptography industry and building a basis for a long -awaited regulatory framework of cryptography. He co -picked financial innovation and technology for the law of the 21st century (Fit21) – a bill on the structure of the market which, if adopted, would give the Commodity Futures Trading Commission (CFTC) more power to supervise the cryptographic industry. He also worked with the representative Maxine Waters (D-Calif.) On the bipartite legislation of the Stablescoin.
Read more: Patrick Mchenry, the legislator who built a foundation for American cryptography legislation
Earlier this month, Mchenry joined the giant of Stripe payments as a main advisor.
A16Z was one of the biggest donors of Super Pac Fairshake, friendly crypto during the last electoral cycle, contributing around $ 70 million. It is already dedicated to $ 116 million for the next electoral cycle.
