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Erebor Bank Seeks $8 Billion Valuation in New Funding Round, Nearly Doubling Year-End Estimate

2026-07-02 11:45:46

According to Bloomberg, Erebor Bank, founded by Palmer Luckey, is in talks to raise new funding at a valuation of at least $8 billion on July 2, nearly double the $4.35 billion valuation from late last year. The crypto-focused bank has grown its deposit base to $405 million over the past three months from $110 million and added nearly 400 new clients. The bank, which holds a national banking charter, primarily serves defense technology and cryptocurrency sectors.

Disclaimer: The information on this page may come from third-party sources and is for reference only. It does not represent the views or opinions of Gate and does not constitute any financial, investment, or legal advice. Virtual asset trading involves high risk. Please do not rely solely on the information on this page when making decisions. For details, see the Disclaimer.

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