Patrick McHenry Joins the Advisory Board of Tokenization Company Ondo Finance

Patrick McHenry, a longtime advocate for cryptocurrency and former chairman of the House Financial Services Committee, has taken on a new role in the private sector.

Patrick McHenry, a Republican lawmaker known for his advocacy for cryptocurrency, has begun a new chapter in the private sector. After two decades serving in the House and ascending to the role of former Chairman of the House Financial Services Committee, McHenry has joined the Advisory Board of Ondo Finance as Vice Chairman.

As of today, McHenry will be lending his expertise to the committee in advising Ondo Finance on pressing policy issues. According to an exclusive report by Fortune, his responsibilities will span ensuring that Ondo’s concerns are effectively communicated to policymakers in Washington, D.C., and forging valuable relationships within the industry.

McHenry’s role is expected to influence legislative discussions around stablecoins and market structure, areas he actively championed during his time in Congress.

During his tenure in Congress, McHenry played a critical role in advancing digital asset regulation, particularly as chair of the House Financial Services Committee. He was a vocal opponent of former SEC Chair Gary Gensler’s regulatory stance on crypto and actively worked toward a stablecoin framework alongside Democratic Representative Maxine Waters.

McHenry officially stepped down from Congress in January but has swiftly transitioned into the private sector. He has since taken on roles at payment giant Stripe, venture capital firm Andreessen Horowitz, and now Ondo Finance.

“I am in the private sector now […] Their agendas are broadly aligned with economic growth and economic opportunity, which is where I spent my time,” McHenry said, discussing the organizations he advises.

Earlier this year, Coinbase enlisted high-profile figures to help the crypto exchange navigate regulatory challenges. Among them are former Sen. Kyrsten Sinema and Chris LaCivita, the 2024 co-campaign manager for Donald Trump.

Both Sinema and LaCivita will be contributing to the company’s efforts in broader capacities, rather than engaging in direct lobbying efforts. Their role will be to leverage their deep understanding of legislative processes and political networks to support the crypto industry’s expansion.

Joining them at Coinbase are other prominent figures, including former Federal Reserve Bank of New York President Bill Dudley and ex-Inter-American Development Bank President Luis Alberto Moreno.

The company’s advisory team already includes former Sen. Pat Toomey (R-Pa.), former Rep. Stephanie Murphy (D-Fla.), and several other political veterans from both parties. As part of their involvement, these advisors will meet with Coinbase executives to provide insights on key policy issues and economic trends.