Peter Thiel Backs New Crypto-Friendly Bank to Rival Silicon Valley Bank

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Peter Thiel, a prominent figure in the tech and crypto spheres, is reportedly backing a new financial services firm named Erebor. This venture aims to fill the void left by the collapse of Silicon Valley Bank, focusing on serving startups and cryptocurrency companies. The initiative signals a strategic move to provide banking solutions to sectors that faced significant disruption following the 2023 banking crisis.

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