--- title: "Palmer Luckey's Erebor bank eyes $8bn valuation" url: https://daily.dev/posts/palmer-luckey-s-erebor-bank-eyes-8bn-valuation-kdxkiq1mn source_url: https://thenextweb.com/news/erebor-bank-palmer-luckey-8bn-valuation type: article source: "The Next Web" published: 2026-07-03T12:39:23.867Z updated: 2026-07-03T12:39:43.013Z tags: ["fintech", "defense-tech"] reading_time: 3 upvotes: 0 comments: 0 language: en --- > ## Documentation Index > Fetch the complete documentation index at: https://daily.dev/llms.txt > Use this file to discover all available pages before exploring further. # Palmer Luckey's Erebor bank eyes $8bn valuation **[The Next Web](https://daily.dev/sources/tnw)** · 3 min read · 0 upvotes · 0 comments ## Summary Erebor, the bank founded by Anduril's Palmer Luckey and backed by Peter Thiel, is in talks to raise at a valuation of at least $8bn — roughly double its late-2025 valuation. The bank's deposits have nearly quadrupled from $1.1bn to $4bn in just three months, adding around 400 customers. Targeting defence technology and cryptocurrency firms left without banking after SVB's 2023 collapse, Erebor received its national charter in February 2026 under the Trump administration. The rapid charter approval has drawn scrutiny from Senator Elizabeth Warren over potential political ties. The bank also signed a preliminary deal with Banco de Venezuela for correspondent banking, a move that raises sanctions concerns, and Luckey is reportedly backing a new US perpetual-futures exchange. ## Full article daily.dev links to this article rather than hosting it. Read it at the original source: ## Similar posts on daily.dev - [Anduril raises $5bn at $61bn valuation, doubling in eleven months](https://daily.dev/posts/anduril-raises-5bn-at-61bn-valuation-doubling-in-eleven-months-q4w10vesm) · The Next Web · 0 upvotes · 0 comments - [Palmer Luckey’s retro gaming startup ModRetro reportedly seeks funding at $1B valuation](https://daily.dev/posts/palmer-luckey-s-retro-gaming-startup-modretro-reportedly-seeks-funding-at-1b-valuation-x5iwduogs) · TechCrunch · 0 upvotes · 0 comments - [Anduril reportedly in talks to raise funding at $100B valuation, more than 3x last year’s mark](https://daily.dev/posts/anduril-reportedly-in-talks-to-raise-funding-at-100b-valuation-more-than-3x-last-year-s-mark-adwirf1y7) · TechCrunch · 0 upvotes · 0 comments --- Tags: [#fintech](https://daily.dev/tags/fintech), [#defense-tech](https://daily.dev/tags/defense-tech) [View this post on daily.dev](https://daily.dev/posts/palmer-luckey-s-erebor-bank-eyes-8bn-valuation-kdxkiq1mn)