Overview
- Reporting identifies Ripple co‑founder Chris Larsen as one of roughly three dozen angel investors in American Perpetuals Exchange Corp., with individual checks reported in the low thousands.
- APEC raised about $30 million in a Lux Capital‑led round that gave the pre‑revenue company a reported $300 million valuation, according to published accounts.
- The company has said it plans to seek Commodity Futures Trading Commission approval to offer perpetual futures tied to U.S. stocks and indices, a product that has not yet been approved or launched.
- Senator Kirsten Gillibrand has denied involvement in her son Theodore Gillibrand’s business even as she negotiates ethics language in the CLARITY Act, a timing that has intensified political and regulatory scrutiny.
- Perpetual futures are widely traded offshore today, so a U.S.‑regulated offering could shift volume to domestic platforms and draw close CFTC and congressional attention to both market structure and investor conflicts.