Peter Thiel, Tech Billionaires to Form Bank for Crypto, AI Startups

Key Points

1. Erebor, a new bank co-founded by Palmer Luckey, aims to serve venture capital-backed startups, similar to the now-defunct Silicon Valley Bank (SVB).

2. Erebor will have two co-CEOs: Owen Rapaport, co-founder of Argus, and Jacob Hirshman, a former Circle adviser.

3. The UK's Cartwright Pension Trusts reported growing interest in Bitcoin exposure, with one client achieving a 60% return on investment in under 12 months.

4. Coinbase announced the acquisition of token management platform LiquiFi to expand its services for early-stage projects.

5. Figma disclosed holding a multi-million-dollar Bitcoin position as it prepares for a potential NYSE debut.