According to a report in Britain's “Financial Times” on the 1st, a group of billionaires from Silicon Valley in the US have applied for a chartered banking license in the US and are preparing to set up a national bank, focusing on supporting startups that operate cryptocurrency and other businesses. According to the Financial Times, after the Bank of America's Silicon Valley went out of business in March 2023, it was difficult for some startups engaged in high-risk businesses such as cryptocurrency trading to finance in the US. The report quoted people familiar with the matter as saying that the new bank is named after the “Lonely Mountain” treasure in “Lord of the Rings,” and that the main investors are Silicon Valley “financiers” of the current US Republican administration, such as Peter Thiel. According to application documents disclosed earlier this week, “Gushan” Bank will be a national bank providing traditional banking products and virtual currency-related products and services to enterprises and individuals. The main target customers are companies participating in the “innovative economy” of the United States, especially those in the fields of cryptocurrency, artificial intelligence, defense, and manufacturing, as well as individuals working or investing in these companies, including those with “insufficient credit channels.” The bank will also seek cooperation with non-US companies “interested in entering the US banking system.”

According to a report in Britain's “Financial Times” on the 1st, a group of billionaires from Silicon Valley in the US have applied for a chartered banking license in the US and are preparing to set up a national bank, focusing on supporting startups that operate cryptocurrency and other businesses. According to the Financial Times, after the Bank of America's Silicon Valley went out of business in March 2023, it was difficult for some startups engaged in high-risk businesses such as cryptocurrency trading to finance in the US. The report quoted people familiar with the matter as saying that the new bank is named after the “Lonely Mountain” treasure in “Lord of the Rings,” and that the main investors are Silicon Valley “financiers” of the current US Republican administration, such as Peter Thiel. According to application documents disclosed earlier this week, “Gushan” Bank will be a national bank providing traditional banking products and virtual currency-related products and services to enterprises and individuals. The main target customers are companies participating in the “innovative economy” of the United States, especially those in the fields of cryptocurrency, artificial intelligence, defense, and manufacturing, as well as individuals working or investing in these companies, including those with “insufficient credit channels.” The bank will also seek cooperation with non-US companies “interested in entering the US banking system.”