Corruption in the New Gilded Age
By 
There was a time, early in her years in the Senate, that I thought Kirsten Gillibrand had real potential as a Democratic Party leader. She had originally won a conservative district and then moved well to the left as she moved into the Senate. But once her 2020 presidential ambitions completely flopped, she disappeared from the public spotlight and became the biggest hack for cryptocurrency in the Senate. I guess she’s decided to cash in. Boy was I wrong about her. And how does that go in this era of epic corruption? Well, her son just graduated from college last month and:
Theodore Gillibrand, the 22-year-old son of Sen. Kirsten Gillibrand, has helped raise $30 million for a new exchange that aims to bring perpetual futures trading into a regulated U.S. market, according to Fortune and company statements summarized in the funding materials.
The startup, American Perpetuals Exchange Corp., or APEC, was valued at about $300 million in the round, with New York-based Lux Capital leading the investment, according to the reports. APEC plans to seek approval from the Commodity Futures Trading Commission to list perpetual contracts tied first to stocks and indexes, not cryptocurrencies.
Gillibrand said in a statement that the project is designed to move trading away from offshore venues. “It is clear that the future of these markets is not in offshore and unregulated foreign entities but rather in a regulated and institutional American company,” he said.
Gee, I wonder how he raised all that money? I’m sure most college seniors can make that happen.
Hopefully, someone primaries Gillibrand the next time she’s up for reelection. New York Democrats can do much, much better than this.