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2025: Bank Establishment
On October 15, 2025, it became known that US supervisors agreed to open a new bank called Erebor. This financial venture, with prominent tech industry figures behind it, will operate exclusively online, based in Columbus, Ohio.
According to the Financial Times newspaper, corporations and individual investors engaged in the fields of artificial intelligence, crypto assets, military technologies and defense production will become the benchmark for the bank. Among the founders of Erebor are the founder of the defense company Anduril Palmer Lacchi and the head of the venture capital firm 8VC Joe Lonsdale. Investors include Peter Thiel's Founders Fund and Haun Ventures, which specializes in cryptocurrencies.
According to the Financial Times, the bank's capital is $275 million. To fully launch a financial institution, you need to pass security and compliance checks, which can take several months. An insider familiar with the situation at Erebor said that the goal is to create a sustainable and reliable bank with a moderate level of risk, engaged in traditional banking.
The decision to found Erebor was made after the bankruptcy of Silicon Valley Bank, which was a key financial partner for many IT startups. The quick approval could point to policies by the Donald Trump administration aimed at reducing regulatory restrictions on banks engaging with digital cash flows and services, the FT reported. In particular, we are talking about stablecoins - cryptocurrencies, whose price is fixed relative to traditional assets.[1]
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