Crypto-friendly Erebor Bank seeks $1.5B funding at $9.5B valuation

Crypto-friendly Erebor Bank is in late-stage talks to raise about $1.5 billion at a $9.5 billion valuation, the Financial Times reported. The investment is expected to include Lux Capital, Human Capital and Andreessen Horowitz, also known as a16z. Erebor provides deposit, lending, stablecoin, treasury management and payment services.