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Crypto-Focused Bank Backed by Tech Billionaires Including Peter Thiel Files for Charter: Report
- A group of tech billionaires led by Palmer Luckey is starting a new crypto-focused bank named Erebor to address the gap left by the collapse of Silicon Valley Bank, as reported by The Financial Times.
- The proposed bank plans to serve technology businesses and will have a digital-only model, with headquarters in Columbus, Ohio, according to its charter application.
- Erebor aims to be 'the most regulated entity conducting and facilitating stablecoin transactions' and will offer traditional banking products along with virtual currency-related services.
- The charter application states Erebor aims to be 'the most regulated entity conducting and facilitating stablecoin transactions.
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der Standard DEA group of right-wing tech billionaires wants to launch "Erebor" a cryptocurrencies-focused bank for start-ups
·Vienna, Austria
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Right-wing investor to challenge traditional banking with national crypto bank
A challenger to traditional banking has finally emerged, and it is coming from the right wing.After billionaire Palmer Luckey was reported to be starting a cryptocurrency venture, it was unclear how big the scope would be and if it would work only in digital currencies.Now that public filings have emerged, the new project was revealed to have major conservative backing while literally giving traditional banks a run for their money.'The bank will…
·United States
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The well-known German-born entrepreneur Peter Thiel wants to create a successor to Silicon Valley Bank with further billionaires.
Coverage Details
Total News Sources13
Leaning Left2Leaning Right3Center1Last UpdatedBias Distribution50% Right
Bias Distribution
- 50% of the sources lean Right
50% Right
L 33%
C 17%
R 50%
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