NEW: Billionaire Peter Thiel and a group of investors are reportedly launching a new bank, Erebor, to serve startups and crypto firms in the wake of Silicon Valley Bank’s collapse in March 2023, according to the Financial Times. 🏦



“Erebor,” a name derived from the eponymous mountain in The Lord of the Rings, would be the latest in a line of Thiel-related ventures named after Tolkien’s epic. 🧙‍♂️🌋💍
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