PANews reported on May 16 that according to Cointelegraph, Warren Buffett's Berkshire Hathaway has completely withdrawn from its holdings in Nu Holdings, the parent company of Latin American crypto-friendly bank Nubank, with a cumulative profit of US$250 million. Although Nubank set new profit records in both 2024 and Q1 2025, Buffett's move reflects his overall strategy of withdrawing from the financial sector. In the same quarter, Berkshire also sold Citigroup's holdings and significantly reduced its holdings in Bank of America, with cash reserves increasing to US$347.8 billion. Nubank supports crypto transactions such as BTC, ETH, and XRP, and has allocated 1% of its assets to Bitcoin.