[Crypto-Friendly Bank Erebor Bank Plans New Funding Round at a Valuation of At Least $8 Billion] According to Bloomberg, Erebor Bank, founded by Palmer Luckey, is in discussions with investors for a new funding round targeting a valuation of at least $8 billion, nearly doubling its $4.35 billion valuation at the end of last year. Sources familiar with the matter revealed that the bank's deposit size has grown from $1.1 billion to $4.05 billion over the past three months, with nearly 400 new clients added. The bank is expected to achieve profitability within the year. Erebor primarily serves companies in the defense technology and cryptocurrency sectors and has obtained a national banking license from the U.S. Office of the Comptroller of the Currency. Its previous investors include Lux Capital, 8VC, Andreessen Horowitz, and Founders Fund.