Fundraising Memo Reveals Truth About Palmer Luckey's Crypto Bank

Palmer Luckey's new crypto bank Erebor claims it can secure regulatory approval within six months due to Luckey's political connections and ties to regulators, though experts suggest the process typically takes longer. The bank is backed by venture firms like Founders Fund and 8VC, and leverages Luckey's political network and connections to regulators to expedite approval, with Erebor aiming for a 2025 charter. However, industry experts caution that the timeline may be optimistic, and regulatory processes often extend beyond initial estimates.