Total deposits grew from $1.1 billion in March to $4.6 billion by July, driven by clients in crypto, AI and defense. Erebor Bank is negotiating a $1.5 billion funding round for a total valuation of $9.5 billion, according to the Financial Times. The capital infusion is designed to meet a mandatory 12% leverage ratio while it expands lending operations, including a $200 million facility for Valar Atomics. Total deposits grew from $1.1 billion in March to $4.6 billion by July, driven by clients i…
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