Erebor Bank Plans $1.5B Raise at $9.5B Valuation
Odaily News: Crypto-friendly bank Erebor Bank is in talks to raise $1.5 billion at a target valuation of $9.5 billion. The funds will be used to meet the 12% mandatory leverage ratio requirement and support loan business expansion, including a $200 million credit facility to Valar Atomics.
Erebor Bank's total deposits grew from $1.1 billion in March to $4.6 billion in July, with customer growth primarily coming from the crypto, AI, and defense sectors. (CoinDesk)
