Exclusive: Son of pro-crypto New York Senator Kirsten Gillibrand raises $30 million to launch a derivatives exchange

[AStern]

A 22-year-old just got a million investment valuing his new futures exchange at 0 million.

He graduated Stanford, wrote for Thiel's Stanford Review, interned at Andreessen Horowitz.

His mom? Pro-crypto Sen. Gillibrand, D-NY.

Bipartisan capture in full bloom.
fortune.com/2026/06/18/t...

— Gil Durán (@gilduran.com) 2026-06-19T16:47:41.520Z

The 22-year-old son of a crypto-friendly senator plans to launch his own exchange for a type of derivative popularized by digital asset traders. Theodore Gillibrand, whose mother is Sen. Kirstin Gillibrand (D-N.Y.), has drummed up $30 million in a fundraise led by the venture firm Lux Capital, according to two sources familiar with the matter. The deal valued Theodore’s startup at $300 million, said the sources, who asked for anonymity to discuss private business dealings.

Dubbed American Perpetuals Exchange Corporation, or APEC, the trading platform aims to list perpetual futures, or “perps,” a form of futures contracts that allow traders to bet on the price of assets without holding the assets themselves. As opposed to standard futures, these derivatives don’t have a set expiration date.

Theodore’s startup plans to apply for a license from the Commodity Futures Trading Commission to list perpetuals for equities and stock indices, not cryptocurrencies, according to a presentation filed with the Securities and Exchange Commission.

A spokesperson for Lux Capital confirmed that it led the fundraise.

“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,” said Theodore in a statement, confirming details of the round.

http://archive.today/3dzAz

[erronis]

1. I'm absolutely (NOT) sure this is on the up-and-up. Kid just happens to have rich friends.

[Fiendish Thingy]

2. The best representation money can buy. Nt

[Bristlecone]

3. Nothing to see here.....

I’m sure this has nothing to do with his mom, her position, her influence, or the appearance of any of the above.

[a kennedy]

4. Ah, not so fast my friend.....faux noise will be on this like vampires on a blood bath.

You should see how they’ve trashed the Obama Center…… and so sorry, I do watch faux noise so I can see the opposite view points. So sorry. And I do gag, and swear.

[Bristlecone]

5. More stomach than I

It’s on at the gym as one of the 20 station in a line of TVs. Every time I see the screen there is a bombastic, hyperbolic, ridiculous streamer going across the screen. How any buys the bs they are selling is beyond me.

[Midwestern Democrat]

8. I would suggest to those who regularly mock and dismiss the idea of anger towards the political establishment that stuff

like this might help explain why that anger exists.

[Bristlecone]

13. Not sure if you mean me

But my post was pure sarcasm

[Midwestern Democrat]

15. No, it wasn't directed at you - sorry for any confusion - I was well aware that your post was sarcastic and I was

agreeing with your sentiment about this.

[oasis]

6. Hopefully there won't be a gang of Dem senators

calling for Sen. G. to resign because of the “possible suspicion of impropriety”.

[DFW]

7. Fear not

Those who lead lynch mobs never do so on their own behalf.

[SocialDemocrat61]

9. Is there a crime here?

If so please state what it is. Otherwise it sounds like the same type of accusations that Republicans made against Hunter Biden and Chelsea Clinton.

[WhiskeyGrinder]

10. Just because something is legal doesn't mean it doesn't stink.

[SocialDemocrat61]

12. Again

The same argument Republicans made about Hunter Biden and Chelsea Clinton.

[biocube]

11. I wish we still had Al Franken in the senate instead of her...

Oops, did I say that out loud?

[PatSeg]

14. Same here

And I had no idea that she was pro-crypto.

[karynnj]

16. Not related to the crypto, but I remember the new Senator with her young kids

Senator Gillibrand was the appointed Senator to replace Hillary Clinton, who became Secretary of State in 2009.