CoinMeta data: According to The Financial Times, Erebor, an encrypted bank supported by Palmer Luckey, has raised over $7 billion in deposits since its inception and attracted more than 500 customers. Erebor adopts a cautious fund management strategy, maintaining the liquidity of most of its funds rather than actively lending. Its financial data for the second quarter of 2026 shows that it held $4.06 billion in deposits, with cash and interbank balances amounting to $4.17 billion, and total loans were only $77.8 million. Erebor's goal is to avoid disasters similar to Silvergate and to maintain liquidity to cope with the risk of rapid withdrawals by depositors.