I think the market simply doesn't believe the bank breadcrumbs on this, hence the miniscule $5M val.
But if you look at the founder's history with Coinbase banking and the fact they've already done 9 figs in settlement, I think it's reasonable they'll pull it off.

Official filings reveal Erebor, a crypto bank specializing in stablecoin custody, plans to opens it's doors to the underbanked industry as soon as end of year.
Erebor is backed by Peter Thiel, the American investor who signaled a bank run responsible for Silicon Valley Bank's

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