Crypto-friendly bank Erebor Bank seeks new round of funding, valuation may reach $8 billion

According to Odaily, Erebor Bank, backed by investor Peter Thiel, is in talks for a new round of funding with a target valuation of at least $8 billion, nearly double its valuation of approximately $4.35 billion at the end of last year. Sources familiar with the matter revealed that the bank's deposit scale has nearly quadrupled over the past three months. Established only five months ago, Erebor Bank secured its banking license shortly after and is now attracting new capital interest amid rapid deposit growth. (Bloomberg)