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Industry

Berkshire Hathaway shares lag rebound, marking worst performance this century after Buffett departure

Berkshire Hathaway has lagged a recent U.S. stock market rebound, posting its biggest relative underperformance so far this year. The S&P 500 broke above 7,100 for the first time, while Berkshire’s A and B shares fell less than 1 percent this month. The stock is more than 12 percent below its record high in May last year. Analysts link the weakness to Warren Buffett’s retirement plan and investor focus on successor Greg Abel.

Crypto

x402 agent payments protocol moves under Linux Foundation, KakaoPay joins governance

The Coinbase-backed agent payments protocol x402 has been transferred to the Linux Foundation. Under the arrangement, the 402 Foundation will manage and operate x402 within the Linux Foundation. Participants in the governance structure include Amazon Web Services, American Express, Ant International, Base, Circle, Google, KakaoPay, Mastercard, Microsoft, Polygon Labs, Shopify, the Solana Foundation and Visa. The x402 Foundation said it will run x402 on neutral principles under Linux Foundation governance.

Crypto

Stablecoin infrastructure startup Cyclops raises $8 million

Stablecoin infrastructure startup Cyclops raised $8 million from Castle Island Ventures, F-Prime and Shift4 Payments. Cyclops provides technology that helps payment companies adopt stablecoins, and its co-CEO said it aims to be the first platform payment firms think of when building stablecoin solutions. Fortune reported that New York-based Blade is a customer. Cyclops partners with processors including Fiserv and Global Payments.