Peter Thiel-backed crypto-friendly Erebor Bank eyes $8 billion valuation as deposits nearly quadruple: Bloomberg
Peter Thiel-backed crypto-friendly Erebor Bank eyes $8 billion valuation as deposits nearly quadruple: Bloomberg
Erebor Bank, a crypto- and defense-focused startup founded by Palmer Luckey and backed by Peter Thiel, is in talks to raise funding at a valuation of at least $8 billion, roughly double its $4.35 billion valuation from December, according to Bloomberg.The bank’s deposits have nearly quadrupled since March to $4.05 billion, and it expects to be profitable by the end of the year.