Kirsten Gillibrand’s son reportedly raises $30M to launch derivatives exchange

American Perpetuals Exchange, a derivatives trading platform owned by Theodore Gillibrand, son of U.S. Senator Kirsten Gillibrand, has completed a $30 million funding round led by Lux Capital as it prepares to pursue U.S. regulatory approval. The platform plans to apply for relevant licenses from the Commodity Futures Trading Commission and launch perpetual futures tied to stocks and stock indexes rather than crypto perpetual contracts. The fundraising builds on earlier reports that the company, also known as American Perpetuals Exchange Corporation, was seeking to create a regulated U.S. venue for perpetual futures at a time when regulators and market participants are debating how such products should be classified and supervised. Earlier reporting said a June 4 memo outlined plans to seek a Designated Contract Market license, a special exemption for single-name equity perpetuals under joint CFTC and Securities Exchange Commission oversight, and a Derivatives Clearing Organization license to clear trades in-house. The effort has drawn attention because perpetual-style products remain common offshore but only limited in the U.S., while legal and policy disputes continue over whether they should be treated as futures or swaps.