Former Congressman Patrick McHenry, a key advocate for cryptocurrency regulation during his political career, has joined venture capital giant Andreessen Horowitz (a16z) as a senior adviser. The announcement, made via an X post on Feb. 26, signals McHenry’s continued influence in shaping the crypto industry's future.

"For too long, D.C. has created barriers for startups and emerging companies," McHenry stated. "It’s time to level the playing field and ensure that Little Tech—the next generation of builders—gets a fair shot."

McHenry, who stepped down in January 2025 after 20 years in Congress, was a major force behind regulatory efforts for digital assets. He co-sponsored the Financial Innovation and Technology for the 21st Century Act (FIT21), a bill aimed at bringing clearer regulations to crypto while enhancing consumer protections. He also pushed for stablecoin legislation, cementing his position as one of the industry's biggest political allies.

As the former Chair of the House Financial Services Committee, McHenry repeatedly clashed with the SEC, particularly with former chairman Gary Gensler. He accused Gensler of misleading Congress on Ethereum’s classification and criticized the SEC’s enforcement-first approach.

A16z, a powerhouse in venture capital, has invested in major tech firms such as Coinbase, Facebook, and Roblox. It is also a key contributor to the pro-crypto super PAC, Fairshake, which spent approximately $130 million in the 2024 elections. That funding played a significant role in the election of roughly 270 pro-crypto candidates to Congress, according to industry group Stand With Crypto.

McHenry’s move to a16z cements his commitment to shaping crypto policy from outside Washington, positioning him as a critical player in the industry's regulatory future.