Crypto-friendly bank Erebor in talks to raise $1.5bn at $9.5bn valuation

Crypto-friendly bank Erebor is in talks to raise $1.5 billion at a $9.5 billion valuation, according to the Financial Times. Total deposits surged from $1.1 billion in March to $4.6 billion by July, reflecting rapid growth. Erebor serves clients in the crypto, AI and defence sectors, positioning itself as a banking alternative for industries often underserved by traditional lenders.