Patrick McHenry, the former Republican congressman from North Carolina and chair of the House Financial Services Committee, didn't wait long to hang up his trademark bow tie and gavel for the private sector. After signing on as an advisor to fintech unicorn Stripe and venture giant Andreessen Horowitz, McHenry is announcing a third gig: vice chairman of the advisory board for Ondo Finance, a crypto firm focused on moving assets like U.S. Treasuries onto blockchains.
McHenry is famous in crypto circles for his work in Congress where he served two years as chair of the powerful House Financial Services Committee, and four more as ranking member. During that time, he advocated for legislation to supervise the emerging industry, including a bill to regulate stablecoins, the flagship product of Ondo. "This is the natural software update to financial markets," said McHenry. "This feels like a no-brainer."
