TECH BILLIONAIRES BACK EREBOR IN THE WAKE OF SILICON VALLEY BANK COLLAPSE
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✍️ Palmer Luckey and other investors are backing a new bank, Erebor, which aims to fill the gap left by Silicon Valley Bank's collapse. The bank will focus on crypto and frontier industries, and its leadership team includes experienced bank executives and crypto compliance experts.
👉 Erebor Bank is a new venture backed by $250 million in funding from Luckey, 8VC, Founders Fund, and other investors. 👉 The bank will focus on serving startups and companies in the crypto, AI, and defense industries, as well as wealthy and ultrawealthy consumers. 👉 Erebor's leadership team includes experienced bank executives and crypto compliance experts. 👉 The bank's application for a national bank charter has been filed with the OCC. 👉 Erebor's organizers are leveraging current regulatory openness in banking to build a crypto-focused bank made in their image.
-- #PalmerLuckey #JoeLonsdale #PeterThiel #MichaelHagedorn #TrevorCapozza #OwenRapaport #JacobHirshman #ErinGleason #AdamCohen #MicheleAlt #ToddBaker #KevinLehtiniitty #RoryMcDonald #StephenMarcus #EveyGuo #SiliconValley #WashingtonD.C. #business
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