Immunefi & Ripple Launch Attackathon: Fortifying XRP Ledger’s Lending Protocol Security
White hats assemble—Immunefi and Ripple just dropped the cybersecurity gauntlet.
The Mission: Secure the XRP Ledger Lending Protocol
This isn't your typical bug bounty—it's a full-scale Attackathon designed to stress-test the protocol's defenses. White hat hackers worldwide are now targeting the XRP Ledger's lending infrastructure, hunting for vulnerabilities before malicious actors do.
Why This Matters for Crypto
Ripple's throwing serious weight behind this security offensive. Because in decentralized finance, a single vulnerability can wipe out millions—ask any traditional finance exec still trying to understand blockchain basics.
The Takeaway: Security isn't just a feature—it's the foundation. And while Wall Street debates quarterly earnings, crypto's building systems that need to withstand constant attack. The future of finance is being secured one bug bounty at a time.
Image source: The Motley Fool.
1. Tech stock: Amazon
Berkshire Hathaway doesn't invest in many tech stocks, but Buffett and Co. made an exception for(AMZN 1.49%). Buffett actually had a chance to invest in Amazon in its infancy, back when the company was an online bookstore, and turned it down.
But rarely is it too late to invest, and Berkshire Hathaway finally began buying Amazon stock in 2019. The conglomerate holds 10 million shares for a position valued at $2.22 billion.
Amazon, of course, has evolved to be much more than a bookstore. The company has a dominant e-commerce site, holding about 37% of the U.S. market. Amazon.com generated nearly $137 billion in revenue for the company in the second quarter, including its international sales.
But it's the Amazon Web Services (AWS) segment that's giving Amazon a lot of its juice lately. Companies are turning to cloud computing providers to provide the computing power they need to run their operations without building hugely expensive data centers -- and the growth of artificial intelligence (AI) makes services like AWS even more popular.
AWS has the leading market share in the cloud computing space, with a 30% market share, and the segment's net sales increased 17% on a year-over-year basis.
2. Bank stock: Bank of America
North Carolina-based(BAC 0.78%) is Buffett's favorite bank stock. Berkshire Hathaway holds 605 million shares of BofA stock, which is a total position of $30.3 billion.
Buffett appreciates companies that have a wide competitive moat, and Bank of America fills that bill. The company ranked No. 1 in the use for the number of consumer deposits in the first quarter, and boasts 69 million consumer and small business clients. Bank of America reported $1.2 trillion in combined consumer and wealth management deposits, and is the second-largest bank in the U.S.
Revenue in the second quarter was $26.5 billion, up 4% from a year ago. Net income was $7.1 billion and $0.89 per share versus $6.9 billion and $0.83 per share a year ago.
I think Bank of America is a freight train waiting to roll. With interest rates beginning to fall, BofA should benefit from an increase in mortgage activity as the housing market begins to rebound. Bank of America stock is up 13% on a year-to-date basis, but I expect it and other bank stocks to show strength in the coming quarters.
3. Healthcare stock: UnitedHealth Group
(UNH 0.39%) is a new position for Berkshire Hathaway -- the company purchased its 5.04 million shares in the second quarter, taking a stake currently valued at $1.88 billion.
This is a classic Buffett play. UnitedHealth had an awful first half of the year as it misjudged medical costs and ended up saddled with Medicare Advantage plans that weren't nearly as profitable as expected. The company missed analysts' expectations in the first quarter, which is the first time that's happened since the 2008 financial crisis.
UnitedHealth's shares dropped 38% in the first half of the year. By buying the dip, Berkshire Hathaway is in a prime position to profit as UnitedHealth Group adjusts its pricing and returns to its winning ways. This healthcare stock has already started to rebound, but there's plenty of room to jump on the bandwagon.
The bottom line
Berkshire Hathaway invests in dozens of companies -- because, of course, Buffett understands the benefits of a well-balanced and DEEP portfolio. Bank of America, Amazon, and UnitedHealth are classic Buffett stocks that reflect his investing style. They are leaders in their industries, have dependable revenues, and long-term relevance.
These stocks offer a durable foundation for buy-and-hold investors who want to copy Buffett's style.
