EREBOR: A NEW BANK FOR CRYPTO

Summary from the TLDR Crypto newsletter

Erebor is a new digital-only bank from Palmer Luckey (Anduril) and Joe Lonsdale (Palantir co-founder) to fill the void left by Silicon Valley Bank's March 2023 collapse, which had disrupted financing for startups and crypto firms. The bank has applied for a national charter and will serve tech businesses in AI, crypto, defense, and manufacturing, with leadership from Circle's Jacob Hirshman. Erebor aims to become "the most regulated entity conducting and facilitating stablecoin transactions," positioning stablecoins as a core focus alongside traditional banking products for both US and international clients seeking access to the US banking system.