Source: Erebor, a digital bank co-founded by Palmer Luckey, raised $350M led by Lux Capital at a $4.35B post-money valuation; it secured FDIC approval last week
Erebor, a new digital bank co-founded by Anduril CEO Palmer Luckey, has quietly raised $350 million at a $4.35 billion post-money valuation, Axios has learned.
Block says it is expanding consumer lending through Cash App Borrow after obtaining FDIC approval to issue loans out of its subsidiary Square Financial Services
MacKenzie Sigalos / CNBC :
Startup-focused neobank Mercury expands to consumers with Mercury Personal, offering support for multiple users, access to up to $5M in FDIC insurance, and more
A mistakenly released FDIC doc lists SVB customers before its collapse: Sequoia with $1B, Beijing-based Kanzhun with $902.9M, Altos Labs with $680.3M, and more
When federal regulators stepped in to backstop all of Silicon Valley Bank's deposits, they saved thousands of small tech startups …
Sources: the FDIC is racing to sell SVB's assets and make 30% to 50% or more of clients' uninsured deposits available as soon as Monday
US regulators overseeing the emergency breakup of SVB Financial Group are racing to sell assets and make a portion of clients' uninsured deposits available …
A closer look at the collapse of Silicon Valley Bank, the 16th largest US bank whose unrealized losses snowballed from $0 in June 2021 to $16B by September 2022
Markets/Econ — General Sherman's memoirs about the Page & Bacon 1855 bank run in San Francisco. Mike / Nongaap Investing : SIVB: Held-to-Mortem Governance Tweets: Mike / @nongaap : It kind of blows ...
The FDIC says SVB clients with deposits above $250K will get “an advance dividend within the next week”; many SVB clients need to meet their payroll on March 15
Exit Fuel 🛢️ exists because of the support of people like you. Dalmas Ngetich / NewsBTC : Long Queues Seen At Silicon Valley Bank-Owned Boston Private - A Bank Run? Tweets: Dan Primack / @danprimack :...
SBF claims FTX had ~$60B in collateral in spring 2022, before a credit squeeze, market selloff, and “run on the bank” reduced it to $9B and led to bankruptcy
and Themselves” Now he has become a doormat apparently. https://twitter.com/... Cas Piancey / @caspiancey : Remember when the FDIC forced Brett Harrison, former CEO of FTX US, to delete a tweet claimi...
Eco, a personal finance app that offers yields of 2.5% to 5% and cash back for shopping at Amazon, Uber, and DoorDash, raises $26M led by a16z crypto
One of the challenges in any new industry — crypto being no exception … MK Manoylov / The Block : Personal banking startup Eco raises $26 million from investors Daniel Palmer / CoinDesk : Rewards-Focu...
Square says Square Financial Services, its industrial bank, has started operations after getting FDIC approval last year
Known for its innovations in the payments sector, Square is now officially a bank. — Nearly one year after receiving conditional approval, Square said Monday afternoon …