Silicon Valley tycoons open banks to save the cryptocurrency world! Is cryptocurrency going to make a comeback?
In the cold winter of Silicon Valley capital, three technology giants - PayPal founder Peter Thiel, Oculus founder Palmer Luckey, and Palantir co-founder Joe Lonsdale suddenly revealed their trump cards: they are planning to build a fully digital bank, the Lonely Mountain of Erebor! The name comes from the treasure hiding place of the dwarves in the "Lord of the Rings", and is aimed at the crypto companies abandoned by traditional finance.
Silicon Valley Bank's Collapse Gives Birth to Crypto Savior
The collapse of Silicon Valley Bank in 2023 dealt a heavy blow to the technology industry, freezing the funding of half of the startups and completely breaking the financing channels for crypto companies. Erebor Bank, born in the crisis, has a clear goal: to specialize in crypto companies, AI startups, and hard technology teams that traditional banks dare not touch!
How do digital banks disrupt the cryptocurrency world?
Erebor has applied for a US banking license, with three main features:
Stablecoin Lightning Settlement: Cross-border transfer costs plummeted by 70%
Crypto + traditional financial hybrid services: connecting virtual and real assets
Springboard for non-US companies to enter the US: Green light for overseas crypto companies
The backgrounds of the two CEOs reveal their ambitions: former Circle stablecoin consultant + digital asset compliance expert is in charge, and they have vowed to become "the most strictly regulated stablecoin trading platform"!
US regulators suddenly open the floodgates
Erebor hits the turning point of US policy:
New FDIC regulations in March this year: Banks can directly conduct encryption business
The Fed replaced its "hawkish" vice chairman in June: Supporting tailored regulation
As soon as the news came out, Bitcoin fluctuated by more than 3% in 24 hours, and Wall Street was ready to move
Is there a glimmer of light behind China's iron curtain of policy?
As the US is in turmoil, China's free trade zone policy lays the groundwork:
Allow foreign capital to develop new financial services that "exist overseas but are not yet available domestically"
Guangdong-Hong Kong-Macao Greater Bay Area expands investment scope of "Cross-border Wealth Management Connect"
Hong Kong has launched a Bitcoin ETF. If the Wealth Management Connect is expanded to include crypto ETFs, mainland investors will have their first legal entry channel! However, the regulatory sword is still there: the State Administration of Foreign Exchange strictly investigates RMB-cryptocurrency transactions.
China and the US secretly fight over stablecoins
99% of the global stablecoin market is monopolized by USDT/USDC! China makes lightning moves:
Hong Kong implements (stablecoin regulations) in August
Conspiring to launch offshore RMB stablecoin
Supporting 1 trillion liquidity pool to attack cross-border payment
Central Bank Governor Pan Gongsheng said: Digital RMB + stablecoin will reshape global payments!
Is it time for ordinary people to get rich quickly?
When Silicon Valley crypto banks collide with Hong Kong’s RMB stablecoin, ordinary people will usher in:
Bitcoin may hit $120,000 as Fed policy shifts to stimulus
Mainland China legally buys currency through Hong Kong, and cross-border financial management is expected to expand
Offshore RMB stablecoin arbitrage opportunities supported by trillions of liquidity pools
This crypto war across the Pacific is turning the once exiled "high-risk assets" into a new world of wealth
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