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A Ripple co-founder has backed a derivatives exchange founded by the son of Senator Kirsten Gillibrand, according to a report — a disclosure that lands as the senator is actively negotiating ethics provisions in a congressional crypto market structure bill.
Gillibrand has said she has "no involvement" in her son's venture. The Conflict at the Center The timing is the story.
Senator Gillibrand is at the table on crypto market structure legislation that includes ethics language, while at least one prominent industry figure — a co-founder of Ripple, the company behind $XRP — has reportedly invested in a derivatives exchange her son launched.
The source of the backing, beyond being identified as a Ripple co-founder, was not further specified in the report. Derivatives exchanges sit squarely within the scope of crypto market structure legislation.
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