Anybody catch this big news?
Do you remember my posts a while back about Luckey Palmer?
The tech genius and huge Trump supporter, who has become a high tech defense contractor, specializing in drone defense technology, is now about to open a “NEW BANK.”
“Erebor, the digital bank co-founded by Palmer Luckey, has achieved a $4.3 billion valuation following a successful $350 million funding round. This milestone is significant as U.S. banking regulators take crucial steps towards granting the company a full banking charter. The company’s rapid ascent underscores growing investor interest in financial institutions that cater to the digital asset, AI, and stablecoin markets.”
This new bank is focused on digital assets, AI and stablecoins.
Just a coincidence that Trump is pushing hard for those same things?
“Erebor has recently received a major boost in its efforts to become a fully licensed bank. The company has obtained preliminary conditional approval from the U.S. Office of the Comptroller of the Currency (OCC), marking a key step toward securing a full national banking charter. This approval paves the way for Erebor to offer federally regulated banking services, including the custody and settlement of digital assets.
Additionally, Erebor’s deposit insurance application was approved by the Federal Deposit Insurance Corporation (FDIC).”
Palmer Luckey’s bank has quickly received approval from the Office of the Comptroller of Currency and the Federal Deposit Insurance Corporation.
Those are two huge milestones that open the door for this new bank to begin doing business in early 2026.
That’s perfect timing.
“The growing institutional support for digital asset banks, including Erebor, is coinciding with a more defined regulatory framework for cryptocurrencies. Under the administration of President Donald Trump, efforts to establish clearer guidelines for digital assets have accelerated. Recent developments, including the approval of stablecoin legislation and a crypto market structure bill, show that regulators are moving toward a more supportive environment for digital asset companies.”
Erebor hits a $4.3B valuation after raising $350M, as U.S. regulators move closer to granting the digital bank a full charter.
coincentral.com
This new bank is going to be the model for a new generation of banks that compete against the centralized banking system and provide a safeguard for our financial future.
Trump is pushing hard for stablecoins and blockchain technology throughout the financial system, in order to decentralize the system and give the power back to the people.
Things are moving fast.
And Luckey Palmer isn’t the only huge Trump supporter involved in this new bank.
“Erebor’s founders and early backers have well-known political ties. Luckey, Lonsdale, and Founders Fund co-founder Peter Thiel have publicly supported former President Donald Trump and candidates aligned with his administration. That background has raised questions about whether Erebor received favorable regulatory treatment.
However, a report by the Financial Times in October said the bank’s application did not receive special consideration and went through the standard approval process. Regulators reportedly applied the same requirements used for other de novo bank applicants, despite the founders’ visibility and connections.”
Banking startup Erebor has raised $350 million in fresh capital at a $4.35 billion valuation, according to Axios, following approval from the Federal Deposit
financefeeds.com
Everything seems to be falling into place.