Ripple Labs co-founder and executive chair Chris Larsen was reportedly among a small group of investors who backed a derivatives platform founded by the son of US Senator Kirsten Gillibrand,
Ripple Labs co-founder and executive chair Chris Larsen was reportedly among a small group of investors who backed a derivatives platform founded by the son of US Senator Kirsten Gillibrand, according to a Politico report published Thursday. The disclosure lands squarely in the middle of Senate negotiations over sweeping crypto legislation that would directly affect companies including Ripple.
According to Politico, Larsen invested in the American Perpetuals Exchange Corp. (APEC), a derivatives exchange founded by Theodore Gillibrand, the senator’s son. While the exact size of Larsen’s contribution was not disclosed, most investors in the platform contributed between $5,000 and $10,000 each. APEC reportedly raised a total of $30 million, according to an earlier Fortune report from June 18.
