We have to make sound law around what is a digital asset and give it market structure.

That is what we've needed for the last decade.

The last four years have been proof that allowing the regulators to do this will lead to a reign of terror, not of innovation and capital formation.

Former chairman of the House Financial Services Committee, Patrick McHenry, has now joined the private sector where he hopes to move the needle when it comes to crypto innovation in the United States.

It was recently announced that he joined Ando Finance as vice chairman and also took an advisory role at

crypto investment firm A16Z. He's here to weigh in on crypto in Washington and the impact

he hopes to make on the industry. Patrick, welcome to Markets Daily.

Hey, thanks, Jen. Thanks for having me back. Of course. Thanks for being here. Now, I got to ask you,

we had a big event at the end of last week. We had the first White House Crypto Summit. Last time you and I spoke, we spoke about the changing conversations that are happening down in D.C. But give me an update here. What are people talking about in D.C.? What did the Crypto Summit signal for you as we head deeper into 2025?

This is real. I mean, I think that's what it signals is this is real. It's not just

electioneering, the difference in approaches to crypto. It is, in fact, going to be policy.

And the policy will unlock American innovation and

unlock digital asset, the whole digital asset ecosystem for the United States. So it was a

welcome sign that the president made this a priority, spent a significant amount of time

with leaders and digital assets and had them at the White House. It was a very,

very big difference from the Gensler regime of attacking the world with crypto in threatening

prison time. And then for them to go from crypto to go from that to being at the White House welcomed by the president

is a, it's such a breathment, a fresh, a birth of, you know, a massive boom of fresh air.

You know, I asked Kevin O'Leary this on yesterday's episode. I'm going to ask you because maybe

you'll have a different perspective here, but the markets didn't really react to this moment. And as you said,

it is a really big moment for the crypto industry. It signals a big change. If you look at,

you know, how the previous industry interacted with crypto folks. Why do you think that the markets

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