Peter Thiel Launches Erebor: Can Billionaires Replace Silicon Valley Bank?

Billionaire investor Peter Thiel launches Erebor, a bank catering to tech startups and crypto companies, inspired by Tolkien. Co-founded by Palmer Lucky and Jon Lonsdale, Erebor aims to fill the void left by the collapse of Silicon Valley Bank, targeting riskier ventures like virtual currencies and defense technology. Investors’ optimism is rising two years after the collapse of SVB, as markets hit fresh records and the IPO market wakes up after a three-year slumber. Bitcoin is above $108,000, and regulators are working on global banking reforms to prevent future banking crises.

Read more at Yahoo Finance: Can Peter Thiel’s Fellowship of Billionaires Replace Silicon Valley Bank?