Ripple Co-Founder Invests in Senator's Son's Crypto Exchange Startup

Ripple co-founder Chris Larsen is one of the investors backing the American Perpetuals Exchange Corp (APEC), a derivatives platform founded by Senator Kirsten Gillibrand's son Theodore. APEC has reportedly raised $30 million from its investors, with most individual contributions ranging between $5,000 and $10,000.

The new derivatives trading platform offers perpetual futures contracts linked to U.S. stocks and stock indices. According to sources, Chris Larsen is among the notable investors backing Senator Gillibrand's 22-year-old son's APEC. Theo, a recent Stanford University graduate, launched APEC with the goal of expanding its offerings.

The funding round was led by investment firm Lux Capital, valuing the company at around $300 million as of June 18, 2026. This has raised concerns about potential conflicts of interest, given Senator Gillibrand's legislative duties and her son's venture in the crypto market.