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Startup Eyes Silicon Valley Bank Clientele
The Wall Street Journal
|October 17, 2025
When Silicon Valley Bank collapsed in 2023, it nearly took startup Anduril down with it. Ever since, the defense company’s co-founder, Palmer Luckey, has been building what he hopes can be a replacement.
Named Erebor, after the mountain where the dwarfs stored their treasure and which the dragon took over in J.R.R Tolkien’s “The Hobbit,” that new bank won a preliminary regulatory approval Wednesday.
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