Luckey-backed Erebor raised $350 million at a $4.35 billion valuation as OCC and FDIC approvals signal momentum for crypto- and AI-focused banking. Erebor, the digital bank co-founded by tech entrepreneur Palmer Luckey and backed by billionaire Peter Thiel, has secured a $4.35 billion post-money valuation after raising $350 million in a funding round led by Lux Capital, according to Axios sources. The valuation milestone, which underscores growing institutional appetite for banking models tailored to crypto, AI and stablecoin-friendly customers, comes as Justice Department regulators take swift steps toward chartering the company. Erebor recently received preliminary conditional approval from the US Office of the Comptroller of the Currency (OCC), a key regulatory hurdle toward becoming a fully licensed bank. Read more
The Council of the European Union endorsed the launch of the European Central Bank’s digital euro in both an online and a privacy-focused offline version. The Council of the European Union (EU) the European Central Bank’s (ECB) digital euro design, A Friday document outlined the council’s position on the digital euro, including alignment with the ECB on launching online and offline variants simultaneously ECB President Christine Lagarde that t rest with EU lawmakers Read more
The transaction highlights growing pressure on crypto treasury companies to prioritize debt reduction as token prices remain volatile. Crypto treasury company ETHZilla said in a filing with US regulators that it sold part of its Ether holdings to repay outstanding convertible notes amid a broader market downturn. The company disclosed in a filing with the Securities and Exchange Commission the sale of 24,291 Ether (ETH) for $74.5 million at an average price of $3,068.69 per token, leaving about 69,800 ETH on its balance sheet as of Friday. The company said it expects to use all or a significant portion of the proceeds to redeem its outstanding senior secured convertible notes. Read more