New York Senator Kirstin Gillibrand’s son, Theodore Gillibrand, has raised $30 million in funding for a new perps trading venue.
Fortune reported Thursday the round was led by New York City-based venture firm Lux Capital at an estimated $300 million valuation.
Gillibrand’s startup, dubbed American Perpetuals Exchange Corporation, plans to file for a Designated Contract Market license with a special exemption to list perps on single-name equities under joint CFTC and SEC oversight, according to a June 4 memo.
The Commodity Futures Trading Commission and Securities Exchange Commission are currently collaborating on a "harmonization" strategy to unify their approach to novel markets and asset classes like crypto and perps.
In May, the CFTC approved Kalshi’s request to list the first official bitcoin perp in the U.S., and permitted Coinbase to list long-dated "perp-style" futures. More recently, Kraken announced it would launch crypto perps on Kraken Pro.
