Thiel-backed Erebor Bank seeks $8B valuation as deposits quadruple
The Palmer Luckey-founded, crypto- and defense-focused national bank is in talks to raise at a valuation of at least $8 billion, double December's $4.35 billion, after deposits grew to $4.05 billion from $1.1 billion in March. Erebor won its OCC charter in February.
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Erebor Bank, which obtained a national bank charter from the Office of the Comptroller of the Currency in February, is seeking an $8 billion valuation after deposits quadrupled.
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