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Project Overview
Erebor is a crypto licensed bank focused on serving startups and high-net-worth individuals in innovative economic sectors such as cryptocurrency, artificial intelligence, defense, and advanced manufacturing.
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)
Erebor Bank expected to complete $1.5 billion funding round within weeks, with a16z and others planning to participate
Odaily News: Erebor Bank, co-founded by Palmer Luckey and Joe Lonsdale, is seeking a $1.5 billion funding round, expected to be completed within a few weeks, with a pre-money valuation target of $8 billion. a16z and other institutions are listed as potential investors. The project's main business is to provide crypto-friendly banking services. Erebor Bank completed a $350 million funding round in December 2025, when it was valued at $435 million.
Crypto-friendly bank Erebor seeks financing, valuation at least $8 billion
According to Bloomberg, Erebor Bank, a crypto-friendly bank backed by Peter Thiel, is negotiating a new round of financing with potential investors at a valuation of at least $8 billion, nearly double its valuation of $4.35 billion at the end of 2025. The report stated that just five months after obtaining its banking license, the bank's deposits have nearly quadrupled in the past three months.
Founders Fund has added approximately $624 million in investment to Anduril, positioning itself in the AI military market.
According to The Information, Peter Thiel’s venture capital firm Founders Fund is investing approximately $624 million in Anduril’s latest funding round—making it one of the largest investors in this round. Anduril’s current round is reportedly raising around $4 billion, with an estimated valuation of $60 billion; Andreessen Horowitz (a16z) and Thrive Capital are leading the round. Anduril is a U.S.-based AI defense startup. Its founder, Palmer Luckey, previously co-founded Erebor—a digital bank tailored for cryptocurrency and tech startups—with Peter Thiel.
Crypto-friendly bank Erebor seeks financing, valuation at least $8 billion
According to Bloomberg, Erebor Bank, a crypto-friendly bank backed by Peter Thiel, is negotiating a new round of financing with potential investors at a valuation of at least $8 billion, nearly double its valuation of $4.35 billion at the end of 2025. The report stated that just five months after obtaining its banking license, the bank's deposits have nearly quadrupled in the past three months.
Warren Questions Approval Process for Crypto Bank Erebor, Suspects Political Interference
According to Bloomberg, U.S. Democratic Senator Elizabeth Warren has raised questions about the regulatory approval process for cryptocurrency bank Erebor. A fundraising document obtained by Senator Warren’s office shows that the bank received its banking license within just a few months—sparking “serious concerns” over whether political connections influenced the approval process. Erebor was co-founded by Palmer Luckey, founder of defense startup Anduril Industries, who has publicly disclosed donations to multiple pro-Trump groups. Senator Warren has now requested further clarification from relevant parties regarding the details of the approval process.
Infinite Launches Bank Account Service Integrating Fiat and Stablecoin Transfers, Supported by Erebor Bank
According to The Block, B2B stablecoin technology provider Infinite has launched Infinite Accounts—a banking account service for enterprises that supports deposits, withdrawals, ACH transfers, domestic and international wire transfers, as well as stablecoin minting, burning, and on-chain transfers—all accessible via a single API. This service is powered by the traditional banking infrastructure of Erebor Bank, which recently obtained its banking license. Infinite states that fiat balances held in these accounts may be eligible for FDIC insurance, whereas stablecoin balances are not. This launch comes amid continued growing institutional adoption of stablecoins.
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)
Crypto-friendly bank Erebor seeks financing, valuation at least $8 billion
According to Bloomberg, Erebor Bank, a crypto-friendly bank backed by Peter Thiel, is negotiating a new round of financing with potential investors at a valuation of at least $8 billion, nearly double its valuation of $4.35 billion at the end of 2025. The report stated that just five months after obtaining its banking license, the bank's deposits have nearly quadrupled in the past three months.
Infinite Launches Bank Account Service Integrating Fiat and Stablecoin Transfers, Supported by Erebor Bank
According to The Block, B2B stablecoin technology provider Infinite has launched Infinite Accounts—a banking account service for enterprises that supports deposits, withdrawals, ACH transfers, domestic and international wire transfers, as well as stablecoin minting, burning, and on-chain transfers—all accessible via a single API. This service is powered by the traditional banking infrastructure of Erebor Bank, which recently obtained its banking license. Infinite states that fiat balances held in these accounts may be eligible for FDIC insurance, whereas stablecoin balances are not. This launch comes amid continued growing institutional adoption of stablecoins.
Related news
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)
Erebor Bank expected to complete $1.5 billion funding round within weeks, with a16z and others planning to participate
Odaily News: Erebor Bank, co-founded by Palmer Luckey and Joe Lonsdale, is seeking a $1.5 billion funding round, expected to be completed within a few weeks, with a pre-money valuation target of $8 billion. a16z and other institutions are listed as potential investors. The project's main business is to provide crypto-friendly banking services. Erebor Bank completed a $350 million funding round in December 2025, when it was valued at $435 million.
Crypto-friendly bank Erebor seeks financing, valuation at least $8 billion
According to Bloomberg, Erebor Bank, a crypto-friendly bank backed by Peter Thiel, is negotiating a new round of financing with potential investors at a valuation of at least $8 billion, nearly double its valuation of $4.35 billion at the end of 2025. The report stated that just five months after obtaining its banking license, the bank's deposits have nearly quadrupled in the past three months.
Founders Fund has added approximately $624 million in investment to Anduril, positioning itself in the AI military market.
According to The Information, Peter Thiel’s venture capital firm Founders Fund is investing approximately $624 million in Anduril’s latest funding round—making it one of the largest investors in this round. Anduril’s current round is reportedly raising around $4 billion, with an estimated valuation of $60 billion; Andreessen Horowitz (a16z) and Thrive Capital are leading the round. Anduril is a U.S.-based AI defense startup. Its founder, Palmer Luckey, previously co-founded Erebor—a digital bank tailored for cryptocurrency and tech startups—with Peter Thiel.
Warren Questions Approval Process for Crypto Bank Erebor, Suspects Political Interference
According to Bloomberg, U.S. Democratic Senator Elizabeth Warren has raised questions about the regulatory approval process for cryptocurrency bank Erebor. A fundraising document obtained by Senator Warren’s office shows that the bank received its banking license within just a few months—sparking “serious concerns” over whether political connections influenced the approval process. Erebor was co-founded by Palmer Luckey, founder of defense startup Anduril Industries, who has publicly disclosed donations to multiple pro-Trump groups. Senator Warren has now requested further clarification from relevant parties regarding the details of the approval process.
Infinite Launches Bank Account Service Integrating Fiat and Stablecoin Transfers, Supported by Erebor Bank
According to The Block, B2B stablecoin technology provider Infinite has launched Infinite Accounts—a banking account service for enterprises that supports deposits, withdrawals, ACH transfers, domestic and international wire transfers, as well as stablecoin minting, burning, and on-chain transfers—all accessible via a single API. This service is powered by the traditional banking infrastructure of Erebor Bank, which recently obtained its banking license. Infinite states that fiat balances held in these accounts may be eligible for FDIC insurance, whereas stablecoin balances are not. This launch comes amid continued growing institutional adoption of stablecoins.