Peter Thiel-backed crypto-friendly Erebor Bank eyes $8 billion valuation as deposits nearly quadruple: Bloomberg
The Block·
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Erebor Bank, backed by Palmer Luckey and Peter Thiel, is in talks to raise funding at a valuation of at least $8 billion, nearly quadrupling its deposits in a short period, according to Bloomberg. This significant growth indicates a surge in investor confidence in the crypto-friendly bank, which could further boost the adoption of digital assets in traditional financial institutions.
Erebor Bank, backed by Palmer Luckey and Peter Thiel, is in talks to raise funding at a valuation of at least $8 billion, per Bloomberg.