Tech Titans Launch Erebor Bank to Fill SVB’s Void for Crypto and AI Startups

A fresh banking venture is taking shape in Silicon Valley. This time, it’s coming from some of the most recognizable names in tech. Palmer Luckey, Peter Thiel, and Joe Lonsdale are backing Erebor Bank, a new institution aimed at serving crypto firms, AI startups, defense tech, and advanced manufacturing, the types of companies that were left in limbo after the collapse of Silicon Valley Bank in 2023.

Filling SVB’s Gap

Before its downfall, SVB played a major role in financing early-stage tech. Its absence created a vacuum that traditional banks were not exactly eager to fill. Erebor Bank wants to step into that space.

ICYMI: A new US bank backed by @PalmerLuckey and @JTLonsdale is aiming to fill the crypto sized hole left by SVB.

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