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Sources: Palmer Luckey-backed Erebor Bank ended its free stablecoin-to-cash redemption offer after crypto trading firms like Wintermute used it for arbitrage (The Information)
Erebor Bank, backed by Palmer Luckey, discontinued its free stablecoin-to-cash redemption service after crypto trading firms—including Wintermute—exploited the offer for arbitrage, undermining its intended consumer use case.
Sep 15, 2026
Stablecoin Enabler Velocity Raises $38 Million Series A
Velocity, a stablecoin enablement firm, secured $38 million in Series A funding led by FirstMark and Dragonfly, with participation from multiple crypto-native and financial institutional investors.
Jul 15, 2026
Stablecoin treasury and setttlement platform Velocity raises $38 million
Velocity, a stablecoin treasury and settlement platform, raised $38 million in Series A funding to expand its infrastructure for enterprise onchain treasury operations.
Jul 14, 2026