đš US Approves Crypto-Friendly National Bank âEreborâ
The US has officially approved Erebor Bank, a new crypto-friendly national bank, marking the first new charter under Trumpâs second term.
đŠ Approved by the OCC, Erebor launches with $635M capital and will serve startups, VC-backed firms, and wealthy clientsâa market hit hard after SVBâs 2023 collapse.
đ° Backed by top investors like a16z, Founders Fund, Lux Capital, 8VC, and Elad Gil, the bank was founded by Palmer Luckey (Oculus creator).
âïž Erebor will focus on lending to advanced sectors like defense tech, robotics, AI factories, aerospace, and futuristic manufacturing.
đ It also plans blockchain-based 24/7 payments, plus loans backed by crypto and private securities, including financing AI chip purchases.
đĄ The FDIC has approved deposit insurance, boosting legitimacy.
đ Valuation jumped from $2B to $4B after a $350M funding round.#MarketRally #USIranStandoff #BitcoinGoogleSearchesSurge #WarshFedPolicyOutlook #WhaleDeRiskETH $BTC
