Crypto Startup Erebor Becomes First US Bank of Trump’s Term

Published by

Sohrab Khawas

February 7, 2026

Crypto Startup Erebor Becomes First US Bank of Trump’s Term

Erebor Bank, a crypto‑friendly financial startup backed by tech investors including Palmer Luckey and Joe Lonsdale, has become the first new national bank chartered in the US during President Trump’s second term, the Wall Street Journal reported. The Office of the Comptroller of the Currency (OCC) approved the charter less than eight months after application, allowing Erebor to operate nationwide. The bank aims to serve technology firms in crypto, artificial intelligence, defense, and manufacturing, helping fill funding gaps left after Silicon Valley Bank’s collapse. It has also secured FDIC deposit insurance and plans to offer traditional banking alongside services tailored to emerging industries.

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Sohrab Khawas

Sohrab is a passionate cryptocurrency news writer with over five years of experience covering the industry. He keeps a keen interest in blockchain technology and its potential to revolutionize finance. Whether he's trading or writing, Sohrab always keeps his finger on the pulse of the crypto world, using his expertise to deliver informative and engaging articles that educate and inspire. When he's not analyzing the markets, Sohrab indulges in his hobbies of graphic design, minimal design or listening to his favorite hip-hop tunes.

Published by

Sohrab Khawas

Tags: Crypto news