Theodore Gillibrand, the 22-year-old son of Senator Kirsten Gillibrand (D-NY), has raised $30 million for his financial trading startup, American Perpetuals Exchange Corporation (APEC), which is valued at $300 million. The funding round was reportedly led by venture capital firm Lux Capital. APEC plans to offer perpetual futures contracts tied to U.S. equities and stock indexes, and it intends to seek approval from the Commodity Futures Trading Commission for its offerings. Senator Gillibrand has been an advocate for cryptocurrency legislation and stated that she has no involvement in her son's business. APEC aims to focus on U.S. equities rather than cryptocurrencies, and the company has not yet launched its trading platform, pending regulatory approval.
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Senator Kirsten Gillibrand's Son Raises $30 Million for Financial Startup
Theodore Gillibrand, son of Senator Kirsten Gillibrand, has secured $30 million in funding for his startup, American Perpetuals Exchange Corporation, which is valued at $300 million. The company plans to offer perpetual futures contracts on U.S. equities and is seeking regulatory approval from the Commodity Futures Trading Commission.
Companies
American Perpetuals Exchange Corporation
Lux Capital
People
Kirsten Gillibrand
Theodore Gillibrand
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Original Headline
Dem Senator’s 22-Year-Old Son Somehow Rakes In $30 Million For New Company
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Senator Kirsten Gillibrand's Son Raises $30 Million for Financial Startup