Emre Yumlu 
Former U.S. House Financial Services Committee Chairman Patrick McHenry joins a16z as an adviser.
Patrick McHenry Joins Andreessen Horowitz as Senior Adviser
Former U.S. House Financial Services Committee Chairman Patrick McHenry (R-N.C.) has announced that he is joining the renowned Silicon Valley venture capital firm Andreessen Horowitz (a16z) as a senior adviser. With $45 billion under management, a16z has been an early investor in successful companies such as Twitter, Airbnb, and Facebook.
The firm’s founders, Marc Andreessen and Ben Horowitz, are politically active figures. Andreessen has publicly expressed his support for President Donald Trump. Additionally, the duo funds Fairshake, a super PAC that supports both Republicans and Democrats.
McHenry, who served in Congress for 20 years and held the position of speaker pro tempore of the House, will assist a16z with policy matters and provide guidance to its portfolio companies navigating the regulatory landscape in Washington, D.C.
Senate’s Digital Asset Policy Subcommittee Holds First Session
In the crypto world, today’s session of the Senate’s first subcommittee on digital asset policy is attracting attention. The subcommittee’s top Democrat, Senator Ruben Gallego (D-Ariz.), will emphasize in his opening remarks that crypto “presents both extraordinary opportunities and significant challenges.” Gallego will also stress the need for “robust oversight” to ensure that crypto is “not used to circumvent existing laws on money laundering, tax evasion, or illicit financing.”
Gallego will further call for “encouraging innovation that is productive and useful to everyday Americans,” stating, “The rise of meme coins from Trump to DOGE to Peanut the Squirrel is about gaining attention and trending on social media, not about providing unbanked and underbanked communities with access to the financial system.”
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