Warren Buffett’s Berkshire Warns Against Crypto Website Using His Name

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(Reuters) – Berkshire Hathaway Inc, run by billionaire Warren Buffett, warned investors on Friday that it had no affiliation with any purported cryptocurrency brokerage website using the Berkshire Hathaway name.

The website describes its operator as a Texas-based broker founded in 2020 to give investors “an opportunity to earn completely passive income through investing in cryptocurrency mining.”

It includes alleged customer testimonials and says the broker is regulated in the US, UK, Cyprus and South Africa, using incorrect names for two regulators. Its email format differs from that of Buffett’s company.

Buffett has long been skeptical of cryptocurrency, and in 2018 called bitcoin “the rat’s death squared.”

In a statement, Buffett’s company said it heard about the website, berkshirehathawaytx.com, on Friday afternoon.

“The entity that has this web address has no affiliation with Berkshire Hathaway Inc or its president and CEO, Warren E. Buffett,” Berkshire said.

The website operator did not immediately respond to requests for comment.

Buffett has run Berkshire Hathaway Inc since 1965.

The Omaha, Nebraska-based conglomerate owns several dozen businesses, including railroad BNSF and auto insurer Geico, and as of September 30 held more than $306 billion in stock.

Cryptocurrency has recently come under renewed scrutiny. This week, US crypto investors sued FTX founder Sam Bankman-Fried and several celebrities who promoted his exchange, including NFL quarterback Tom Brady and comedian Larry David, claiming that they had engaged in deceptive practices to sell FTX yield digital currency accounts. FTX has filed for bankruptcy and is under intense scrutiny from US authorities amid reports that $10 billion in client assets were transferred from FTX to Bankman-Fried’s trading company, AlamedaResearch.

(Reporting by Jonathan Stempel in New York; Editing by David Gregorio)


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