Peter Thiel plots Erebor Bank to replace the Silicon Valley Bank for startups, Crypto

Peter Thiel and other technological billionaires have identified a major market opportunity in the vacuum left by the collapse of Silicon Valley Bank (SVB). They now plan to launch a new financial institution – named after a benchmark from the Lord of the Rings – to serve companies and cryptographic startups that have had trouble obtaining funding since the fall of SVB.

SVB’s dramatic collapse in 2023 triggered a contagion in the American banking sector and has led to more strict loan standards. Although its assets were then acquired by First Citizens Bank, no institution has intervened to fulfill the unique role of SVB – so far.

For the context: before its collapse, SVB has banned almost half of all technology and life sciences supported by companies in the United States.

This week’s crypto-biz plunges into the latest Thiel bet, a new recovery system for investors in institutional cryptography, and Michael Saylor’s strategy, whose massive cryptographic windfall in the second trimester is delivered with an important asterisk.

The billionaire group wants to build an SVB competitor

Billionaires Peter Thiel, Palmer Luckey and Joe Lonsdale have tabled for a banking charter for EreborA new financial institution aimed at serving startups, cryptocurrency companies and other supposedly risky companies, the Financial Times reported on Wednesday.

The technological group hopes to fill the gap left by the collapse of Silicon Valley Bank – a potentially lucrative market, although volatile.

Thiel is no stranger to digital assets. It’s a frank bitcoin (BTC) Advocate and also invested in Bullish, an exchange of crypto that would have tabled for a first public offer In the United States.

Circuit launches the crypto recovery system for institutions

“Most people are not equipped for the real self-leather,” explains Harry Donelly, founder and CEO of circuit, who has just launched a Business quality recovery solution For digital assets.

Powered by automatic asset technology (AAE), the circuit system helps institutions to avoid catastrophic and permanent losses of digital assets. The solution was put online with two institutional customers: the guardian tungsten based in water and Palisade, a cryptographic infrastructure company.

“The institutions consider the recovery of assets as a fundamental requirement, not as pleasant in Have,” said Donelly. “As more and more companies have digital assets, ensuring that these assets do not disappear becomes critical. The institutional mentality concerns risk management and trustee obligations. ”

The launch of the circuit comes in the middle of estimates that between 11% and 18% of the fixed bitcoin offer is already lost forever.

Strategy defined to publish massive Bitcoin gains in T2

Business Intelligence Commerce Society has become the strategy of the Bitcoin cash company should report $ 13 billion in unrealized gains Of its digital assets, even if its main activity continues to fight.

The strategy amassed 597,325 BTC, generating a Bitcoin yield of 7.8% in the second quarter, according to president and founder Michael Saylor. The company continued to stack the SAT last week, Acquire $ 531 million in BTC.

Despite this cryptographic windfall, strategous software activities are expected to generate $ 112.8 million in revenue in the second quarter, a drop compared to the previous year.

The daring daring bet of the strategy has become a case study for dozens of companies that have adopted similar approaches. According to Cointtelegraph250 companies now hold Bitcoin, with 26 announcing BTC treasure strategies last month.

Robinhood launches the ARITRUM CLOSE-2

Robinhood, digital brokerage with more than 25 million users, extends its thrust in digital assets by Launch of a dedicated layer 2 blockchain On Arbitrum for the trade in token shares and funds negotiated on the stock market (ETF).

The new Tokenization initiative will allow investors of the European Union access to more than 200 American actions and ETF chips.

The announcement comes a few days after Robinhood Introduces micro contracts in the long term For Bitcoin, Solana (GROUND) and xrp (Xrp).

This last decision is based on Robinhood’s wider advocacy in terms of pro-TOKENization legislation in the United States, while working to launch an exchange of active world.

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