tldr; Peter Thiel, along with other tech billionaires, is backing the creation of Erebor, a new commercial bank aimed at serving venture capital-backed startups in sectors like AI, defense, manufacturing, and cryptocurrencies. Led by Palmer Luckey and supported by Thiel’s Founder Fund, Erebor seeks to fill the gap left by the collapse of Silicon Valley Bank. The bank has applied for a national charter and plans to include stablecoins in its balance sheet. Erebor will have co-CEOs Owen Rapaport and Jacob Hirshman.
*This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.
r4rthrowawaysoon on
Peter Thiel is the one financially backing a large portion of the horrific authoritarian crap going on in the US. He is a dirt bag of a human and has published opinion pieces on taking away women’s rights.
Anything he touches will be used for evil control.
Corrosive_salts on
Self serving billionaires and unethical corporations are not good for crypto.
arlsol on
This was how he tanked silicon valley bank.
Amazing_Giraffe_7464 on
Step 1: Create Bank
Step 2: Create Loans
Step 3: Profit off interest
Step 4: When loans are mismanaged and go unpaid, cry to congress to secure bailout from government via taxpayer money. Says its ‚protecting the people from economic collapse‘.
Step 5: With the securing if taxpayer guaranteed loan payments repeat steps 2-3.
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tldr; Peter Thiel, along with other tech billionaires, is backing the creation of Erebor, a new commercial bank aimed at serving venture capital-backed startups in sectors like AI, defense, manufacturing, and cryptocurrencies. Led by Palmer Luckey and supported by Thiel’s Founder Fund, Erebor seeks to fill the gap left by the collapse of Silicon Valley Bank. The bank has applied for a national charter and plans to include stablecoins in its balance sheet. Erebor will have co-CEOs Owen Rapaport and Jacob Hirshman.
*This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.
Peter Thiel is the one financially backing a large portion of the horrific authoritarian crap going on in the US. He is a dirt bag of a human and has published opinion pieces on taking away women’s rights.
Anything he touches will be used for evil control.
Self serving billionaires and unethical corporations are not good for crypto.
This was how he tanked silicon valley bank.
Step 1: Create Bank
Step 2: Create Loans
Step 3: Profit off interest
Step 4: When loans are mismanaged and go unpaid, cry to congress to secure bailout from government via taxpayer money. Says its ‚protecting the people from economic collapse‘.
Step 5: With the securing if taxpayer guaranteed loan payments repeat steps 2-3.