Woofun AI reports that American Perpetuals Exchange has secured $30 million in financing, with Lux Capital acting as the lead investor. Theodore Gillibrand, son of U.S. Senator Kirsten Gillibrand, spearheaded the funding round for his derivatives trading platform.

The entity intends to apply for a license from the U.S. Commodity Futures Trading Commission. Its strategic focus is on launching perpetual futures contracts for stocks and stock indices, deliberately excluding crypto perpetual contracts from its initial product suite.