Gillibrand's Son Raises $30 Million for U.S. Perpetuals Exchange

According to a June 4 memo, American Perpetuals Exchange Corporation, led by Theodore Gillibrand, raised $30 million at an estimated $300 million valuation to build a regulated U.S. venue for perpetual futures. The company plans to file for a Designated Contract Market license with a special exemption under joint Commodity Futures Trading Commission and Securities and Exchange Commission oversight.

The fundraising round was led by Lux Capital. Theodore Gillibrand met with SEC and CFTC officials to discuss perpetual futures regulatory harmonization, including a framework placing single-name equity perpetuals under dual agency oversight rather than forcing the product into one agency's regulatory structure.