Palmer Luckey’s Erebor Bank adds over $3 billion in deposits in a single quarter

Context: Erebor Bank, founded by Palmer Luckey, has experienced explosive growth, adding over $3 billion in deposits within a single quarter. This rapid expansion has raised concerns about potential vulnerabilities in the bank's operations, particularly given its focus on serving startups. The bank's swift rise in deposits has drawn parallels to past financial crises that were sector-specific.