According to WSJ, U.S. regulators have approved Erebor Bank to obtain a nationwide banking license, making it the first newly approved bank during Trump's second term. The bank was initiated by Palmer Luckey and primarily offers financial services to tech startups and high-net-worth individuals. It has an initial capital of approximately $635 million and aims to fill the market gap left after the collapse of Silicon Valley Bank. Erebor's investors include institutions such as a16z and Founders Fund, and it plans to leverage blockchain technology to provide 24/7 settlement services, focusing on serving defense, industrial, and cutting-edge technology companies.