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U.S. Senator Warren questions the approval process of crypto-friendly bank Erebor Bank
Gold Financial reports that on April 24th, Massachusetts Democratic Senator Elizabeth Warren is seeking more details about Erebor, a cryptocurrency-focused bank co-founded by well-known supporters of U.S. President Donald Trump, which received regulatory approval earlier this year.
Senator Warren stated that a fundraising document obtained by her office raised “serious concerns,” questioning how the bank obtained its license within a few months and whether political connections accelerated the approval process. Erebor was founded by individuals including Palmer Luckey, the founder of defense startup Anduril Industries, who has publicly stated donations to pro-Trump groups.