News linked to both this project and an event.
Odaily reports: Robinhood's venture capital fund Robinhood Ventures Fund I (NYSE: RVI) has announced that it has spent $30 million to purchase preferred shares of Erebor Bank, National Association, a U.S. bank. Erebor is a U.S. nationally chartered bank focused on the innovation economy, serving sectors including defense, robotics, artificial intelligence, and hard tech. The bank obtained a national bank charter from the U.S. Office of the Comptroller of the Currency (OCC) and federal deposit insurance in February 2026, and its deposits have now exceeded $7 billion.Erebor was founded in 2025, co-founded by Palmer Luckey and others, and is backed by institutions including Valor Equity Partners, Lux Capital, and 8VC. RVI is the first fund under Robinhood Ventures and listed on the New York Stock Exchange in March 2026, primarily providing investors with exposure to private company equity by investing in private companies. (fxnewsgroup)
Odaily News: Crypto-friendly bank Erebor Bank is in talks to raise $1.5 billion at a target valuation of $9.5 billion. The funds will be used to meet the 12% mandatory leverage ratio requirement and support loan business expansion, including a $200 million credit facility to Valar Atomics. Erebor Bank's total deposits grew from $1.1 billion in March to $4.6 billion in July, with customer growth primarily coming from the crypto, AI, and defense sectors. (CoinDesk)
According to Bloomberg, Erebor Bank, a crypto-friendly bank backed by Peter Thiel, is negotiating a new round of financing with potential investors at a valuation of at least $8 billion, nearly double its valuation of $4.35 billion at the end of 2025. The report stated that just five months after obtaining its banking license, the bank's deposits have nearly quadrupled in the past three months.
According to The Block, B2B stablecoin technology provider Infinite has launched Infinite Accounts—a banking account service for enterprises that supports deposits, withdrawals, ACH transfers, domestic and international wire transfers, as well as stablecoin minting, burning, and on-chain transfers—all accessible via a single API. This service is powered by the traditional banking infrastructure of Erebor Bank, which recently obtained its banking license. Infinite states that fiat balances held in these accounts may be eligible for FDIC insurance, whereas stablecoin balances are not. This launch comes amid continued growing institutional adoption of stablecoins.