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Julia Smith
Author
Julia Smith
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Key Takeaways:
- McHenry is shifting from public service to advising tech investors, marking a notable change in how regulatory insight is applied in the private sector.
- His appointment reflects a growing trend of experienced policymakers stepping into roles that help shape industry strategy.
- The move is seen as an effort to simplify complex oversight and support emerging companies facing regulatory challenges.
- His expertise is expected to aid in crafting more adaptable rules that balance innovation with accountability.
Former Congressman Patrick McHenry (R-NC) announced on Wednesday via X that he has joined venture capital firm Andreessen Horowitz (a16z) as a senior advisor, following the conclusion of his two-decade tenure in the U.S. Congress.
Patrick McHenry Announces a16z Position
“Excited to share that I’m joining @a16z as a Senior Advisor,” McHenry said. “Technology is the future of economic growth, and I’m eager to help innovators navigate the policy landscape so they can build.”
McHenry did not elaborate on his specific responsibilities but emphasized his commitment to removing “bureaucratic barriers for American entrepreneurs.”
“For too long, D.C. has created barriers for startups and emerging companies,” McHenry continued. “It’s time to level the playing field and ensure that Little Tech—the next generation of builders—gets a fair shot.”
Andreessen Horowitz’s Role in Tech and Crypto
A16z, founded by Marc Andreessen and Ben Horowitz, has made substantial investments in the technology and blockchain sectors.
The Silicon Valley-based firm was a major contributor to Fairshake, a digital asset super PAC focused on supporting crypto-friendly congressional candidates ahead of the 2024 U.S. elections.
Andreessen, known for advising key figures in the tech sector such as Mark Zuckerberg, has voiced concerns about regulatory policies under the Biden administration after previously backing Democratic candidates.
McHenry’s Background in Digital Asset Legislation
McHenry, a key advocate for digital asset legislation during his time on Capitol Hill, briefly served as Speaker pro tempore of the House after Rep. Kevin McCarthy’s removal in late 2023.
In May 2024, he spearheaded efforts to pass the Financial Innovation and Technology for the 21st Century Act through the House of Representatives, marking a rare instance of bipartisan cooperation in crypto regulation.
News of McHenry’s latest venture comes just weeks after he announced a new advisory position at fintech payments organization Stripe.
Crypto’s Policy Battle Moves Beyond Capitol Hill
For years, McHenry fought to bring regulatory clarity to digital assets from within Congress.
Now, as a senior advisor to one of crypto’s most powerful venture firms, his role shifts from lawmaker to industry advocate.
This transition highlights a broader trend in the financial sector: when regulatory progress stalls in Washington, the private sector steps in to steer the conversation.
A16z has already been active in political funding, backing pro-crypto candidates and advocating for industry-friendly policies.
With McHenry onboard, the firm is doubling down on its efforts to influence the rules of the game.
Whether this fosters constructive dialogue with regulators or deepens tensions between Washington and the crypto industry will become clear over time, but one thing is certain—policy decisions affecting digital assets are no longer confined to legislative chambers.
His appointment signals a growing recognition that regulatory expertise is vital not only in public policy but also in shaping the private sector’s approach to technology. By bringing his legislative experience to a16z, McHenry is positioned to help craft frameworks that balance innovation with effective oversight—a trend increasingly observed as traditional regulators and private firms work more closely together.
McHenry’s history of advancing bipartisan crypto legislation and reducing bureaucratic barriers can provide a16z with nuanced insights into the regulatory process. His expertise is likely to inform strategic decisions that align with both industry innovation and the evolving demands of regulatory bodies, helping the firm navigate complex policy environments.
Yes, by leveraging his deep understanding of regulatory processes, McHenry can help shape policies that encourage innovation while ensuring necessary consumer protections. His involvement at a16z may facilitate more constructive interactions between industry players and regulatory agencies, potentially leading to a more balanced and supportive framework for digital assets.
One challenge is managing the potential conflict of interest between public policy advocacy and private sector goals. Additionally, the shift requires navigating the political nuances of regulatory reform while maintaining credibility among both regulators and industry stakeholders. Ensuring transparency and objective decision-making will be key to overcoming these hurdles.
