Why Patrick McHenry Says Crypto Is Stronger in Washington Even After the Midterms

From the Nvidia Megaspeed probe to the data center backlash, Patrick McHenry maps how AI angst and China concerns are reshaping Washington.

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Democrats flipped both chambers of Congress in the November 3 midterms by one of the widest margins since 1994, and some Republicans in North Carolina and Texas pulled the Democratic lever, likely for the first time.

Patrick McHenry, Vice Chairman of Ondo Finance and former chair of the House Financial Services Committee, joins Austin Campbell, Ram Ahluwalia, and Chris Perkins to unpack what a 250-plus seat House majority and a 55- or 56-seat Senate mean for policy, and why he calls it a "throw the bums out" election.

They also cover the alleged Chinese intelligence link to Megaspeed that put Jensen Huang and Nvidia under scrutiny, why data centers became a stand-in for voter anger, and whether credit card rate caps can pass. McHenry argues the incoming Congress is more pro-crypto than it was six or eight years ago, even without the Clarity Act.

Whichever party answers voters' angst over AI and the cost of living may decide 2028.

Hosts

• ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Austin Campbell⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ - Host of Bits + Bips, Founder of Zero Knowledge Group, and Adjunct Professor at NYU Stern

• ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Ram Ahluwalia⁠⁠⁠ - Co-host of Bits + Bips and CEO of Lumida

• ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Chris Perkins⁠⁠⁠⁠⁠⁠ - Co-host of Bits + Bips and Head of Franklin Crypto

Guest

• Patrick McHenry - Vice Chairman of Ondo Finance and Former Chair of the House Financial Services Committee

Timestamps:

🎬 00:00 Intro

🕵️ 01:11 Jensen Huang, Megaspeed and alleged spies: how Washington will react

🏭 07:18 Is foreign influence behind the bipartisan backlash to data centers?

😤 13:47 Why data centers became a proxy for anger at Big Tech and inflation

💙 19:55 Nexo: Generate daily interest on your crypto or borrow funds against your assets at https://unchainedcrypto.com/go/nexo-podcast-yt

🗳️ 20:17 What a 250-plus seat Democratic House majority means for policy

🔄 24:03 Why Republicans voting for Democrats was the midterms' notable break

🪙 28:36 McHenry on why crypto is in a better spot even after this election

💳 34:50 Why McHenry thinks credit card rate caps could pass this Congress

🧭 37:29 Why McHenry is watching AOC and Jon Ossoff to read the Democrats' path

🎓 47:11 Is student debt, not AI, the real source of young voters' angst?