According to CoinMeta, Erebor Bank is approaching a round of financing worth approximately $1.5 billion, with a valuation of $8 billion. Negotiations for this round of financing took place after the bank received final approval from the Federal Reserve Bank of the United States. The latest report from Erebor Bank shows that as of the end of June, deposits amounted to about $4.06 billion, and assets totaled about $4.66 billion. The bank plans to target high-net-worth individuals interested in digital assets, artificial intelligence, national defense, and advanced manufacturing.