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A group of technological billionaires led by a military contractor Palmer Luckey, as well as the left gap of the Silicon Valley Bank, including a group of cryptocurrency enterprises, is preparing to launch a group of banks.
To get the name of the arebor, the bank will be supported by high-profile technological investors, including the founder Joe Lonsdale Venture Capital Firm 8VC and Peter Thiel Palat the Founder of the Defense Group, according to the people familiar with the issue.
Thiel’s Capital Fund, the Foundation Foundation, for the point about two people, will be among investors.
As an Anger and Palatir, the name of the Arabor JRR Tolkien’s The owner of the rings. Erebor is the “lonely mountain” with the treasures back from Dragon Smaug.
Luckey and Lonsdale – Those who have large donors to Donald Trump in the 2024 presidential elections in the United States – the bank’s SVB has been asked to occupy the SVB from the SVB for the risk of risky companies and crypto.
Erebor applied for a national bank The Charter in the United States is a license that allows the financial institution to operate as a bank.
“The Bank will be a National Bank …. Traditional banking products, as well as virtual currency products and services related to products and services, enterprises and individuals, this week has been made public.
Its target market will be part of the US “Innovation Economy”, especially virtual currencies, artificial intestures, defense and manufactured technological companies. It also serves to those who work or invest in companies.
In addition, the United States plans to work with the “access to the US banking system”.
Erebor’s co-founders, first of all, in 2023 they discussed the start of a bank after the collapse of the svin in 2023. The SVB was the main bank for those who supports US beginnings and their enterprise capital.
His assets have moved to the first citizens since SVB, the first citizens, a number of bankers in the United States. However, investors and managers complain about a gap in banking services for fedgling technologies since the death of the SVB – some beginnings are struggling to get the same access to the capital.
“Erebor, in the provision of documents,” It is not to provide good services by traditional or disruptive financial institutions, especially those who do not work with a person who does not work with a non-credit person, he said.
Known in real-life assets such as dollars, Knittokurs, who are known as Stablecoins, are expected to be a significant part of the bank’s operations. The application aims to be Erbor, “the most adjustable organization that makes Stablecoin operations.”
Longkey and Lonsdale were not expected to be attended by Longkey and Lonsdale for the daily management of people familiar with Luckey and Lonsdale’s plans. Previously, CO-CEOS JACOB Hirshman, who works as a consultant in the cryptoist group and the company, will be managed by Co-Ceos Jacob Hirshman. New Jersey-based Valley Valley National Bank, a former high-level executive Vice President Mike Hagedorn, will be the president of the bank.
The head office will be in the city of Ohio Columbus, which is an additional office in New York, but this digital will only offer all products and services through a smartphone application and website.
Part of the app was secretly presented and disclosed to the public as the details associated with shareholders, capital structure and business plan.
Luckey did not respond to a request for comment. Lonsdale confirmed that the project was a financial support, but refused to comment. Rapaport and a spokesperson for Thiel refused to comment. Hirshman and Hagedorn did not answer.
