Brief

Theodore Gillibrand, son of Senator Kirsten Gillibrand, has secured $30 million in funding led by Lux Capital for his new venture, American Perpetuals Exchange Corporation (APEC). APEC aims to launch a regulated derivatives exchange in the U.S. that will focus on perpetual futures for equities and stock indices, rather than cryptocurrencies. This move follows the growing popularity of perpetual futures in both the crypto and traditional finance markets, and APEC plans to seek licensing from the Commodity Futures Trading Commission. AI

Kalshi has become the first U.S. exchange to receive regulatory approval for offering perpetual futures contracts, a type of derivative popular in crypto trading. The Commodity Futures Trading Commission (CFTC), under Chairman Mike Selig, greenlit the listing of Bitcoin perpetual futures, marking a significant step for U.S. traders accessing this market. These contracts, which lack an expiry date and allow for high leverage, saw $86 trillion in volume globally last year, with platforms like Hyperliquid gaining traction among commodity traders. AI