Loading ...Thiel Joins Luckey & Lonsdale To Launch New Bank Aimed At Filling SVB Void For Stablecoins, AI, Defense & Advanced Manufacturing
A group of high-profile tech investors, including military tech entrepreneur Palmer Luckey and venture capitalist Joe Lonsdale, is preparing to launch a new bank designed to serve the niche left behind by the collapse of Silicon Valley Bank — and to do so with ambitions that extend deep into cryptocurrency, defense tech, and artificial intelligence.
One of the bank’s major innovations, and potential regulatory flashpoints, is its plan to become a dominant player in stablecoin transactions, a controversial corner of the cryptocurrency world where digital tokens are pegged to traditional currencies like the U.S. dollar. Erebor’s filing describes its goal as becoming “the most regulated entity conducting and facilitating stablecoin transactions.”
If they are not torchering you like a slave – or shooting you in the head – they’re just not happy.
Chuckle