CoinVoice has learned that, according to Bloomberg, Erebor Bank, a bank startup supported by Peter Thiel, is in the process of raising a round of financing, aiming to raise approximately $350 million, with a valuation expected to double from the previous round to $4.35 billion.

This round of financing is led by Lux Capital, with existing investor 8VC also participating. Erebor Bank primarily targets clients in the crypto asset and technology sectors, filling some market gaps after the collapse of Silicon Valley Bank in 2023, while also expanding its client base to defense and aerospace-related companies.[Original link]