Theodore Gillibrand raises $30 million for equity perpetual-futures exchange at $300 million valuation

Theodore Gillibrand, 22, raised $30 million for American Perpetuals Exchange Corp. in a round led by Lux Capital that valued the company at $300 million. The startup plans to apply for a Commodity Futures Trading Commission license to list perpetual futures contracts on equities and stock indices.

Gillibrand graduated from Stanford University on Sunday. He previously worked as a fellow at Paradigm and as an intern at Andreessen Horowitz. APEC will not list cryptocurrency perpetual futures, according to a presentation the company filed with the Securities and Exchange Commission.

A Lux Capital spokesperson confirmed the firm led the fundraising round. “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,” Gillibrand said in a statement.

Perpetual futures allow traders to bet on asset prices without holding the underlying instruments and without a fixed expiration date.

U.S. conflict with Iran, when traders used them to speculate on oil indices while traditional exchanges were closed. U.S. Company approved by the CFTC to list Bitcoin perpetual futures. U.S. regulatory framework.

Sen. , helped introduce the Genius Act, legislation regulating stablecoins. President Donald Trump signed the measure into law in July.