Palmer Luckey's Erebor Bank adds over $3 billion in deposits in a single quarter
- —Deposits rose from $1.1 billion in March 2026 to $4.05–4.6 billion by mid-year
- —More than 500 new customers signed on during the quarter
- —Annualized revenue climbed from $31 million to $112 million, per Sacra estimates
- —The bank is in funding talks targeting an $8 billion valuation, up from $4.35 billion
Why it matters: The deposit surge and stablecoin support show crypto infrastructure is being woven into traditional banking for technology companies.
Source: Crypto Briefing