Ripple Co-Founder Backs Senator's Son's Crypto Exchange with $30M Funding Round

Chris Larsen, co-founder of Ripple, has joined Lux Capital and other elite investors in backing American Perpetuals Exchange (APEC), a startup founded by Theo Gillibrand, son of Senator Kirsten Gillibrand. APEC secured $30 million in funding, valuing the company at $300 million. The platform focuses on perpetual futures products tied to U.S. equities.

The investment highlights growing interest in crypto from both the financial and political spheres. Senator Gillibrand's role in shaping U.S. crypto regulations and ethics reforms is notable, given her son's involvement with APEC.