TechFlow news, May 16 — According to Cointelegraph, Warren Buffett's Berkshire Hathaway has fully exited its stake in Nu Holdings, the parent company of Latin America's crypto-friendly bank Nubank, booking approximately $250 million in profits from the investment. Notably, this divestment was not due to poor performance by Nubank—the company reported a net income of $557.2 million in the first quarter of 2025, a 47% year-on-year increase, with full-year 2024 net income up 91%. The move is actually part of Berkshire’s broader strategy to reduce exposure to financial stocks; during the same period, it also sold its stake in Citigroup and reduced its position in Bank of America, collectively offloading over $2.1 billion in financial equities and boosting its cash reserves to a record $347.8 billion.
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