A group of tech entrepreneurs led by Palmer Luckey, co-founder of military contractor Anduril, is preparing to launch a US bank aimed at serving start-ups and cryptocurrency businesses, filling a void left by the collapse of Silicon Valley Bank (SVB). The new institution, to be named Erebor, has , Luckey — who famously created the Oculus VR headset and whose net worth is pegged by Forbes at $3.6 billion — is partnering on the bank startup with tech investor Joe Lonsdale, sources close to, Sources: Palmer Luckey is preparing to launch Erebor, a US bank backed by Joe Lonsdale and other tech investors to serve startups, including crypto businesses, Hedge funds including Point72, Millennium, and Third Point are increasingly seeking to expand into private credit markets. Alan Waxman, CEO of Sixth Street, criticized publicly traded rivals for commoditizing private credit and driving down returns, a trend he is resisting. Meanwhile, tech billionaires Palmer Luckey,.., His latest venture, Erebor Bank, signals a bold and unconventional shift—one that blends technology, ideology, and a challenge to the legacy financial establishment., .