Ripple Co-Founder Chris Larsen Invests in $30M Exchange Founded by U.S. Senator's Son

According to Cointelegraph, on July 3, Ripple co-founder and Executive Chairman Chris Larsen participated in funding American Perpetuals Exchange Corp. (APEC), a derivatives trading platform founded by Theodore Gillibrand, son of New York Senator Kirsten Gillibrand. The platform has raised $30 million, with most investors contributing between $5,000 and $10,000 each. The investment comes as Gillibrand participates in negotiations over ethical provisions in the Clarity Act, legislation set to significantly impact the U.S. crypto industry. Gillibrand previously stated that "members of Congress and government officials should not profit from the industry by virtue of their insider status," though her spokesman responded that she has "no involvement" in her son's business.
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