According to ChainCatcher, a group of billionaire Silicon Valley entrepreneurs has applied for a charter bank license, planning to establish a national bank to support startups in cryptocurrency and other sectors. After the collapse of Silicon Valley Bank in March 2023, cryptocurrency startups have faced difficulties in securing funding. The new bank is named 'Lonely Mountain', with major investors including prominent Silicon Valley backers of the Republican government, such as Peter Thiel. The bank will offer both traditional and virtual currency products, targeting innovative economy businesses and individuals. Its headquarters will be located in Columbus, Ohio, with an office in New York City to provide online services.