PANews reported on December 23 that, according to Axios, Erebor, a digital bank backed by Palantir co-founder Peter Thiel and Anduril CEO Palmer Luckey, has completed a $350 million funding round. The round was led by Lux Capital, with participation from existing investors Founders Fund, 8VC, and Haun Ventures. Its latest valuation is $4.35 billion. Erebor positions itself as a new type of bank serving crypto and technology clients. It recently received FDIC deposit insurance approval and obtained a preliminary banking license, and is expected to officially launch in 2026.