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flag Erebor Bank, backed by tech investors, launched as the first new national bank in Trump’s second term, focusing on crypto, AI, and defense startups with $635M in capital.

flag Erebor Bank, backed by Palmer Luckey and major tech investors, has become the first new national bank chartered under President Trump’s second term, receiving approval from the OCC after an eight-month review. flag The crypto-focused bank, with $635 million in capital, aims to serve AI, defense, and crypto startups, filling a gap left by Silicon Valley Bank’s 2023 collapse. flag It plans to offer crypto-backed credit, finance high-performance AI chips, and use blockchain for continuous settlement. flag The bank has also secured FDIC deposit insurance and reached a $4 billion valuation.

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