Tech-Focused Bank Founded by Trump Backers Wins US Approval (1)

A new US bank that aims to serve emerging tech firms in sectors such as crypto and artificial intelligence has received conditional approval to operate from the Office of the Comptroller of the Currency.

Called Erebor, the Columbus, Ohio-based firm was founded this year by a group that includes Palmer Luckey, co-founder of military contractor Anduril Industries Inc. Also involved is Joe Lonsdale, head of venture capital firm 8VC and a co-founder of data analytics firm Palantir Technologies Inc., the Financial Times reported earlier. Luckey and Lonsdale were major contributors to Donald Trump’s most recent presidential ...