<ul data-eligibleForWebStory="false"><li>Palmer Luckey, founder of Anduril Industries and Oculus, is launching a new digital bank named Erebor for startups and cryptocurrency companies.</li><li>Erebor is set to raise at least $225 million at a $2 billion valuation, with backing from Founders Fund and 8VC.</li><li>The startup, inspired by JRR Tolkien's 'The Lord of the Rings,' plans to provide services like crypto-collateralized lending.</li><li>The involvement of backers who have supported President Trump comes as the Trump administration shows interest in the cryptocurrency industry.</li></ul>

Anduril CEO Palmer Luckey's new digital banking startup set to be valued at $2 billion, sources say

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