Ripple Co-Founder Chris Larsen’s APEC Investment Draws Scrutiny Amid U.S. Crypto Bill Talks

Ripple co-founder and executive chairman Chris Larsen has invested in American Perpetuals Exchange Corp. (APEC), a derivatives startup founded by Theodore Gillibrand, the 22-year-old son of U.S. Senator Kirsten Gillibrand. The investment has attracted attention as the senator continues to help shape cryptocurrency legislation that could influence companies across the digital asset industry, including Ripple.

APEC reportedly secured approximately $30 million in fresh funding, valuing the company at around $300 million. While most angel investors contributed between $5,000 and $10,000, the amount invested by Larsen has not been made public, according to POLITICO.

The startup aims to build a regulated marketplace offering perpetual futures linked to U.S. equities. Before launching the product, APEC must obtain approval from the Commodity Futures Trading Commission (CFTC). Following approval from Japan’s Financial Services Agency, Ripple launched its RLUSD stablecoin in Japan on June 25, 2026. The rollout strengthens Ripple’s presence in Asia’s regulated crypto ecosystem.

Recently, Ripple CEO Brad Garlinghouse criticized Strategy’s Bitcoin acquisition strategy, saying long-term value should come from innovation, not financial engineering.

Why the Investment Is Drawing Attention

The investment has sparked public discussion because Senator Gillibrand is actively involved in negotiations over the Digital Asset Market CLARITY Act, legislation designed to establish a broader regulatory framework for the U.S. cryptocurrency industry.

Ripple is among the companies that could be affected by future market structure rules. As a result, some observers have questioned whether investments involving the families of lawmakers working on crypto policy could create the appearance of a potential conflict of interest, even though no misconduct has been alleged.

Senator’s Office Responds

A spokesperson for Senator Gillibrand said Theodore Gillibrand operates his business independently and that the senator had no involvement in APEC’s fundraising or investment activities.

The senator has also previously supported stronger ethics standards for public officials and argued that lawmakers should not personally benefit from industries they oversee.

Although APEC is not a cryptocurrency exchange, its proposed derivatives platform would operate within the same evolving regulatory landscape that Congress is trying to define for digital assets. The investment highlights how relationships between the crypto industry, financial startups, and policymakers are receiving increased public scrutiny as new legislation moves forward.

With the CLARITY Act still under debate and APEC awaiting regulatory approval, both the legislative process and the startup’s progress are likely to remain closely watched in the months ahead.