The 22-year-old son of Democratic New York Sen. Kirsten Gillibrand raised $30 million in investments to launch a derivatives exchange startup already valued at $300 million, according to a report.
Gillibrand is one of the top pro-crypto U.S. Senators in Washington, D.C., influencing cryptocurrency and digital asset policy. She previously partnered with Republican Wyoming Sen. Cynthia Lummis on “landmark legislation” to create a rules framework for stablecoins.
Now her son, Theodore, is starting the American Perpetuals Exchange Corporation, or APEC, which will offer perpetual futures contracts that allow traders to wager on the future price of assets without owning them, Fortune reported. The contracts also lack the expiration dates typical of traditional futures contracts, the outlet noted. (RELATED: They Said They Would Drain The Swamp. They’re Laughing, Playing In The Muck)
Gillibrand’s son graduated from undergrad on Sunday. Today it’s reported that he’s received $30 million in venture capital funding to launch a derivatives exchange. His mom sat on the Senate Agriculture committee—which has jurisdiction over derivates—until this past year https://t.co/Q0K8YzrV7D
— Henry Burke (@burkehenryt) June 18, 2026
“The American Perpetuals Exchange Corporation will be offering perpetual futures on US equities,” an APEC spokesperson told The New York Post. “There will be no cryptocurrencies on the platform, and the platform is not built on blockchain technology.”
Theodore said in a statement, “It is clear that the future of these markets is not in offshore and unregulated foreign entities but rather in a regulated and institutional American company.”
Gillibrand has denied being involved with the startup in any capacity.
“My son is a grown adult starting his own independent business,” the senator said. “I have no involvement in it whatsoever. That said, I’m enormously proud of him and wish him nothing but the best.”