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Billionaire Bitcoin Bank! GenZ Flocking to Crypto Rails (Patreon)

Published:
2025-07-03 17:10:39
Imported:
2026-06
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Thiel & Fellow Tech Billionaires Launch New Crypto Bank

PayPal co-founder Peter Thiel and fellow tech billionaires are launching Erebor, a new bank designed to serve Bitcoin and cryptocurrency startups abandoned after Silicon Valley Bank's 2023 collapse. Named after the Tolkien fortress, Erebor will offer traditional banking plus Bitcoin and crypto services for businesses underserved by existing financial institutions. The bank plans to focus on artificial intelligence, defense, manufacturing, and digital assets while providing crucial credit access to innovative companies.

And while this is happening, Traditional Banks are now in official panic mode, as 89% of Gen Z and Millennials report that they will leave their banks for Crypto and DeFi platforms offering yield, tokenized stocks.

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3324

For UK people who watch countdown today’s countdown conundrum PETERTHIEL THEREPTILE

Aaron

I can't express how much I appreciate James offering his own summary and takes on these stories rather than simply forwarding them. I read full stories when possible, but when I have a trusted source like James, I can still feel pretty well informed even when I can't.

Chewie

Bitcoin based Crypto future has finally arrived in 2025 And yes, a Bitcoin friendly President did help regardless what folks like him or not.

Wascal

I won’t be using a bank with Thiel at the helm, however this is just the start…trad banks will have to change their ways or 🪦

InternetExploder

Tolkien is rolling in his grave. Thiel is not the good guy here. 😐 Of course banks do need to change.

Jeremy

Is there a source for the 89% number?

Barone2025

Just the usual bs. This is the guy who triggered a bank run on SVB silicon valley bank and was the first out of the door.

Grand_Duke_Abigor

I despise Bank Of America. Terrible... everything.

SFJess717

I absolutely hate Bank of America, but feel compelled to keep my ATM account there for cash. After my experience with Celsius, I feel reluctant to try something new.

Grand_Duke_Abigor
>>179325948

Fidelity is great. I've still got an account at Bank of America with the minimum deposit of $500 in it, just to have the ability to use them as an on/off-ramp, and diversify banks. But Fidelity offers interest bearing "Cash Management" accounts that function like a checking account. Free checkbook, unlimited reimbursement for ATM fees. I use it to pay all my bills, mobile deposits, and it's super convenient. Only drawback, you can't deposit at an ATM. Mobile deposits only.

Chetan Burman

100% everyone will switch. Hate high fees, constant harassment for transactions and massive time lag