Peter Thiel-Backed Erebor Wins US Approval, Filling Silicon Valley Bank Gap

Erebor, a financial services company backed by billionaire Peter Thiel, has received critical approval to launch operations in the United States. This move comes amidst the ongoing fallout from the collapse of Silicon Valley Bank (SVB) and aims to address the gap left by the bank’s failure. Erebor, according to reports, has secured preliminary banking permissions but must complete regulatory hurdles before full operations begin.