Palmer Luckey, the founder of defense technology startup Anduril Industries, has reportedly backed a cryptocurrency-friendly banking startup that aims to revolutionize the financial sector.
What Happened: Luckey is backing a budding financial firm that aims to provide “stability” to Silicon Valley, The New York Post reported on Friday, citing insiders. The firm’s main objective is to assist tech entrepreneurs in growing their businesses, rather than focusing on maximizing returns on deposits.
Luckey is said to be partnering on the bank startup with tech investor and Palantir Technologies Inc. (NASDAQ:PLTR) co-founder Joe Lonsdale
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The startup, currently named …