Erebor Bank — backed by Palmer Luckey and Peter Thiel — is in talks to raise fresh funding at a valuation of at least $8 billion, according to Bloomberg. The crypto-friendly bank’s deposits have nearly quadrupled.
The valuation jump shows that crypto-focused banking is still attracting serious money, even during a rough market stretch for digital assets. Erebor’s positioned itself as a bridge between traditional finance and crypto, offering services that many conventional banks won’t touch.
Details on the funding round are still thin, but an $8 billion price tag would put Erebor among the more valuable fintechs in the space. The bank hasn’t commented publicly on the talks.
