CoinVoice has learned that, according to Axios, the banking startup Erebor has completed a new round of $350 million financing after receiving approval from the Federal Deposit Insurance Corporation (FDIC), with Lux Capital leading the round. Sources reveal that Erebor's existing investors also include Founders Fund, 8VC, and Haun Ventures. The company is valued at approximately $4.35 billion. It is reported that the FDIC officially approved Erebor's deposit insurance application last week, making it a newly established national bank. Erebor was founded in 2025 by Anduril CEO Palmer Luckey and Joe Lonsdale, with early support from Peter Thiel and Haun Ventures. According to its banking license application documents, Erebor plans to offer both traditional banking services and cryptocurrency-related products and services, targeting clients in the U.S. innovation economy, particularly tech companies focused on virtual currency, artificial intelligence, defense, manufacturing, as well as payment service providers, investment funds, and trading institutions. Erebor is expected to officially launch operations next year. [Original link]

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