Latest news with #Base
Otago Daily Times
16 hours ago
- Business
- Otago Daily Times
Corner Store: Over 25 years where style and individuality intersect
People have known it as Base Clothing store, but the Wānaka retailer has changed its name to Corner Store. As it turns out, it is one of the longest-running clothing stores in town. Owner Chris Walsh got his first retail job when he was just 15, working across the Ditch in Newcastle, where he was brought up. That was where he got a taste of fashion and the fun that comes from working in the industry, he says. "There were these cool girls working with me and I was thinking 'Whoa, there's great girls, you can hang out with girls, this is perfect'," he jokes. He dreamed of coming to New Zealand to ski at Treble Cone. When he arrived, he fell in love with Wānaka and the rest is history. In 1999, he and two mates, Brent Harridge and Tim Hudson, brought into the Base clothing store business. At the time it cost them just $50,000 each for the lease in Helwick St. By comparison, sections in Meadowstone Dr at the time were going for about $30,000. "I came to New Zealand and realised there wasn't much in the way of clothing stores." There was little happening at the lakefront end of Helwick St and so they placed themselves on "Plods Patch" (the intersection of Helwick and Dunmore Sts), as it was affectionately named. He recalls PaperPlus was on the diagonal corner, where it still sits today. "More retail in upper Helwick St has helped. The pavements were no good at the start — it was just us and the pharmacy. You had to cross the road, [so] we were a bit of a destination." Over the course of a quarter of a century, he has seen the town change remarkably and plenty of retailers fail, or leave for other opportunities. "In Wānaka, a lot of shops come and go but there's still a lot of independent stores and we have a local vibe, which is pretty cool and special." While there were stores before his, and many have come since, the shops he recalls having done the long-haul are Kai Whakapai, the Dough Bin, PaperPlus, Racers Edge, Wānaka Pharmacy and the Westpac Bank. Mr Walsh puts down the longevity down to necessity and grit. After the 1999 Wānaka floods and the Global Financial Crisis in 2008, he had to borrow money from his parents and sell property to stay on that corner. "My accountants were saying shut the business down." He stayed because he loved the work and "knew it would come right". It did. Once the GFC passed, Wānaka township started to grow at a slow and steady pace; in the past five years it has boomed. The property market and domestic buyers had helped. Tourism been a huge part of his shop's survival. "The quality of international tourism — we are getting more European and Americans and Canadians and they love shopping," he says. "Covid was frightening when it happened. We started our online store more heavily during Covid and then after Covid we had a really awesome couple of years. "I find New Zealanders are my best customers, followed by Aussies. New Zealanders were travelling around and supporting New Zealanders. The last couple of years have been a little tough because the economy has been a little tough on people's spending, mortgages and interest rates." When he looks back on 1999 when the shop first opened, the store was quite "modern" compared with most others, which set it apart. "The store was unique. It was way out there; everything was old and our store was new school and modern." Initial brands stocked were Lee, Huffer, Wrangler and Rusty, all of which carry through today. Mr Walsh says Wānaka is great for shopping because it has more than just chain stores. It is a shopping destination because of its unique independent stores. "In Wānaka, the clothing assortment is fantastic. There are so many good clothing stores. I think we are one of the best places to go shopping. We have more options than anywhere. You go anywhere else and they are all chain stores but here we are all different and independent." He adds that Wānaka people are fashionable. "I think Wānaka people are fit and healthy and they like to wear cool clothes that are comfortable. And the older crew dress younger. It's down to earth." While his prices are mid level, he has enjoyed seeing higher-end fashion come to Wānaka and bring something for everyone. The business trio also started women's clothing store, Bella, as well as the Base ski shop. They have since sold both and they are still in operating. And as for the name change, it's obvious, he says. "I dreamed up all these funky names. Corner Store suits all the ages — we have teens and older customers, we cater for all women and all ages and Corner Store seems to suit that, a place that caters for all."
CNBC
19 hours ago
- Business
- CNBC
Stablecoins go mainstream: Why banks and credit card firms are issuing their own crypto tokens
A $44 billion IPO. A Senate bill with bipartisan momentum. And now, a wave of Fortune 500 firms launching crypto tokens of their own. Stablecoins — once a niche corner of the cryptocurrency world — are entering the corporate and policy mainstream, potentially reshaping how money moves in the United States and around the world. "Many of the users out there today are not aware of stablecoins, or not interested in stablecoins, and they should not be," said Jose Fernandez da Ponte, PayPal's SVP of blockchain, crypto and digital currencies. "It should just be a way in which you move value, and in many cases, is going to be an infrastructure layer." For corporations, stablecoins are an opportunity to slash millions in transaction fees and turbocharge payment infrastructure with instantaneous settlement. USDC issuer Circle's long-awaited public debut exposed a wave of pent-up demand for digital dollars as investors sent the stock soaring as much as 750% in June. Partnerships, and competition, quickly followed. Coinbase announced a deal with e-commerce platform Shopify to bring USDC payments to merchants. Payments firm Fiserv announced a stablecoin to pair with the 90 billion transactions it processes every year. "We're entering the utility phase right now, where the technology has matured. It's gotten fast, it's gotten cheap," said Jesse Pollak, head of base and wallet at Coinbase. "It's gotten easy to use, and that's leading to real-world adoption across businesses and consumers." Base is Coinbase's Ethereum layer-2 network, designed to make blockchain applications faster, cheaper, and more accessible to developers and users. Merchants are a particular focus for stablecoins, as payment processing fees for these businesses totaled a record $187.2 billion in 2024, according to the Nilson Report. Payment companies are looking to fend off potential disruption by stablecoin issuers. Mastercard this week announced support for four stablecoins on its Multi-Token Network. The private blockchain is targeted toward institutions and promises 24-hour settlement. Visa's CEO told CNBC the payment processor is modernizing its infrastructure with the help of stablecoins. "Visa and MasterCard are leaning into the disruption," said Nic Carter, founding partner at Castle Island Ventures. "They're trying to disrupt themselves, so they seem to be ahead of the curve." JPMorgan took a slightly different approach to the crypto token boom on Wall Street. The financial giant launched a token backed by commercial bank deposits rather than U.S. dollars. JPMorgan's Naveen Mallela, global co-head of Kinexys, the bank's blockchain unit, told CNBC the JPMD token would allow for round-the-clock settlement for institutional clients looking for faster, cheaper transactions while staying connected to the traditional banking system. The boom in crypto adoption on Wall Street is bolstered by growing support in Washington. The Senate passed its framework of rules for stablecoins, called the GENIUS Act. The bill includes guidelines for consumer protections, reserve requirements for issuers, and anti-money laundering guidance. Stablecoins and other cryptocurrencies have faced criticism for their use in illicit activity, and some Democrats argue the bill doesn't do enough to address those concerns. Those lawmakers also argue the bill doesn't curtail conflicts of interest, including the recent launch of a stablecoin tied to President Donald Trump through World Liberty Financial. The crypto-focused firm run by his family is behind the dollar-pegged token USD1. When asked about Trump's ties to crypto projects in his name, the White House told CNBC there are no conflicts of interest and the president's assets are in a trust managed by his children. "I think it was a mistake for Trump to have a Trump-affiliated DeFi project issue a stablecoin. I think that really set back his stablecoin legislative agenda," Carter said. "I think we could do it a lot more in terms of tackling these conflicts of interest. And I completely understand the Democrats when they try and weed this out." Watch the video above to learn why corporate giants are racing to launch their own crypto tokens
Yahoo
3 days ago
- Business
- Yahoo
COIN vs. PYPL: Which Crypto Payments Stock is the Better Option Now?
Retail access to cryptocurrencies is steadily improving as platforms streamline onboarding, optimize user experiences and align more closely with regulatory standards. Fintech firms and exchanges are increasingly integrating crypto wallets and trading capabilities within their apps, simplifying digital asset management for everyday users. In this context, let's find out which of these two companies is better poised, Coinbase Global Inc. COIN or PayPal Holdings, Inc. which bridge the gap between traditional finance and the crypto space, are gaining importance in shaping the digital financial system. In fact, major banks are also exploring their own stablecoin initiatives. With tokenization, stablecoins and DeFi, retail users are set to gain access to a wider array of user-friendly and functional crypto services beyond basic cyber threats remain a challenge. But as an investment option, which stock is more attractive? Let's closely look at the fundamentals of these stocks. Coinbase, the largest registered crypto exchange in the United States, is well-positioned to capitalize on increased market volatility and rising digital asset prices. The company is also set to benefit from President Trump's favorable stance on cryptocurrency and his push for regulatory clarity. With 83% of its revenues coming from the United States, Coinbase is strongly aligned with a domestic market that is increasingly viewed as a future global leader in crypto 2024, the company more than doubled its total revenues and recorded its second straight year of positive adjusted EBITDA. This growth was largely driven by increased transaction revenues from higher trading volumes and expanded market share in the United States. Coinbase is also prioritizing real-world crypto adoption through key infrastructure investments such as Base — a cost-efficient Layer 2 scaling solution — and a growing focus on stablecoins. These moves reinforce its strategic vision to serve as the primary platform for businesses integrating digital a financial perspective, Coinbase remains strong, closing 2024 with $9.3 billion in USD resources, including cash, cash equivalents, and USDC, up $3.8 billion year over year. The company has also lowered its debt load, with healthier debt-to-capital and interest coverage ratios signaling solid financial management and repayment rising transaction and operating expenses continue to put pressure on profit margins. It also remains highly exposed to volatility in the value of major cryptocurrencies such as Bitcoin and Ethereum. A significant price drop could hurt earnings, reduce the value of crypto held on the balance sheet, and constrain future cash flows, potentially straining liquidity and the ability to meet ongoing obligations. Paypal has emerged as one of the largest online payment solution providers, backed by its strong product portfolio and two-sided platform. This enables it to offer a smooth and secure transaction facility to both customers and recognized as a digital payments giant, PayPal also offers retail users the ability to buy, sell, and hold leading cryptocurrencies such as Bitcoin and Ethereum. By entering the crypto space, PayPal has established itself as one of the most user-friendly and mainstream entry points into digital assets, leveraging the strength and trust of its established payments is actively positioning its stablecoin, PayPal USD (PYUSD), as a core engine of growth. Since its debut in August 2023, the company has advanced rapidly, issuing PYUSD via Paxos under U.S. regulatory supervision, enabling near-instant, ultra-low-cost transfers through Solana in May 2024, and incorporating PYUSD at checkout to lower merchant processing fees. In April 2025, PayPal inked a partnership with Coinbase that marked another key milestone, enabling fee-free PYUSD purchases and 1:1 redemptions on Coinbase, while jointly exploring DeFi use cases and cross-border payment partnership not only expands PYUSD's distribution but also fortifies its competitive edge by establishing a strong moat around PayPal's dollar-backed token. In contrast to Coinbase, PayPal is embedding crypto into everyday commerce, giving it a unique advantage in driving broader consumer adoption. The Zacks Consensus Estimate for COIN's 2025 revenues implies a 5.9% year-over-year increase but the same for EPS implies a 61.1% decline. EPS estimates have, however, moved north over the past 30 days. Image Source: Zacks Investment Research The Zacks Consensus Estimate for PYPL's 2025 revenues and EPS implies a year-over-year increase of 3.2% and 9.3% respectively. EPS estimates, however, witnessed no movement over the past 30 days. Image Source: Zacks Investment Research Coinbase is trading at a forward earnings multiple of 59.67, which is in line with its median in a year. XYZ's forward earnings multiple sits at 13.75, below its median of 14.75 over the past year. Image Source: Zacks Investment Research Coinbase and PayPal are emerging as leading forces in the race to drive stablecoin adoption and crypto-powered payments. Coinbase is building out the Coinbase Payments platform, while PayPal is promoting its PYUSD stablecoin and forging partnerships for smooth integration. As their strategies increasingly intersect in the stablecoin arena, the stage is set for a competitive shares have gained 38.9% year to date, while PayPal shares have lost 13.8% in the same time. Though both COIN and PayPal carry a Zacks Rank #3 (Hold), COIN seems a safer investment can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report PayPal Holdings, Inc. (PYPL) : Free Stock Analysis Report Coinbase Global, Inc. (COIN) : Free Stock Analysis Report This article originally published on Zacks Investment Research ( Zacks Investment Research Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
3 days ago
- Business
- Yahoo
Coinbase target raised to 'Street High' at Bernstein, calling it 'misunderstood'
-- Bernstein raised its price target on Coinbase (NASDAQ:COIN) to $510, the highest on the Street, calling it 'the most misunderstood company in our crypto coverage universe.' The analysts, led by Gautam Chhugani, reiterated an Outperform rating and set the new price target of $510, which implies 48% upside from current levels. The broker sees Coinbase as the dominant U.S. crypto trading platform and the only crypto-native firm in the S&P 500. Its leadership spans trading, custody, and infrastructure. Bernstein pointed to Coinbase's growing role as a 'crypto universal bank,' highlighting its largest stablecoin business amongst exchanges, institutional custody, derivatives, and on-chain infrastructure via the Base blockchain. 'Despite multiple growth levers, consensus remains bearish on the largest Crypto universal bank,' analysts wrote. The report noted Coinbase's Q1 results and raised its 2027 earnings estimates by 28% to $20.38 per share, driven by operating leverage. Despite broad skepticism on Wall Street, Bernstein's 2025 and 2026 EPS estimates for Coinbase are more than double the consensus. The firm now values the stock at 25 times its projected 2027 earnings, up from a previous multiple of 21. Furthermore, analysts argue that concerns around rising competition have not materialized. Coinbase's retail take rate remained stable in Q1 at 140bps, and its global spot trading market share rose from 7.2% to 7.8%. 'We believe that COIN's customers value trust/safety more relative to mere pricing, given the treacherous track record of exchange hacks/ frauds globally,' the analysts added. They also expect the launch of perpetual futures in the U.S. to expand Coinbase's derivatives footprint, which already includes the international exchange and Deribit, the largest crypto options platform globally. Coinbase's growth in non-trading revenues—particularly from staking, stablecoins, and custody—was also a key factor behind the revised outlook. In 2024, non-trading revenue made up about 42% of the company's total, up from 14% in 2020. 'COIN has also added several fast-growing businesses such as institutional custody, Base blockchain services and Prime lending desk, thus, emerging as the 'Amazon of crypto financial services', offering crypto financial services beyond simple trading,' the analysts added. Bernstein now expects Coinbase to generate $9.5 billion in revenue in 2025, rising to $12.7 billion in 2026 and $14.1 billion in 2027. The increase is driven by strong growth in both trading—particularly perpetual futures—and non-trading segments like staking and stablecoins. Despite a reduction in reported 2025 EPS due to fair value losses, the brokerage raised its adjusted EPS estimate for the year to $11.26. Related articles Coinbase target raised to 'Street High' at Bernstein, calling it 'misunderstood' JP Morgan upgrades Yum Brands on growth under new CEO Goldman Sachs lifts TSMC target as AI and advanced-packaging demand broadens Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Business Insider
3 days ago
- Business
- Business Insider
MevX 2.0 Redefines the Memecoin Trading Platform Experience
Hanoi, Viet Nam, June 26th, 2025, Chainwire MevX, the leading memecoin trading platform, has officially launched MevX 2.0, a major interface and experience upgrade built to help users move faster, smarter, and more efficiently across the ever-evolving meme coin ecosystem. This release marks a significant milestone in MevX's roadmap, enhancing how traders interact with tools that were previously reserved for advanced bot operators and institutional setups. While the core of MevX remains unchanged—sniper presets, multi-wallet control, cross-chain automation—MevX 2.0 brings these tools into a smoother, more cohesive layout. From its newly optimized dashboard to redesigned trading panels, this update turns MevX into the most accessible meme coin trading bot for both experienced snipers and ambitious newcomers. Designed for the Way Memecoins Move in 2025 Since the beginning of 2025, meme coin markets have matured, but speed still reigns. New launches appear on Solana, Base, Avalanche, and other chains by the hour. Wallets move fast, and alpha is increasingly social. Traders today need more than speed—they need clarity, precision, and integrated intelligence. MevX 2.0 was designed specifically for this world With its streamlined UI, traders now have instant access to chain selection, sniper setup, wallet monitoring, and order execution from a unified panel. Sniper presets can be configured faster. Cross-chain swaps require fewer clicks. And liquidity alerts appear without ever needing to refresh. Whether sniping early tokens or tracking deployer wallets, MevX 2.0 ensures you're operating like a pro, with a tool that adapts to the pace of memecoins. A Smart System Behind Every Click MevX isn't just a frontend refresh—it's a thoughtful re-architecture of how tools are accessed and chained together. The updated wallet manager allows seamless toggling between multiple addresses, each with custom roles—whether used for copying influencer wallets, testing new strategies, or tracking high-PnL accounts. Sniper mode presets are now stored and managed globally, making it easier to deploy across wallets and chains. New order visuals give users direct visibility into gas usage, slippage, execution delay, and more. Wallet watchlists are deeply integrated into the alert center, with triggers across any supported chain. These enhancements, while subtle, combine to remove the edge that traders used to lose when jumping between bots or platforms. MevX brings the execution path into one place, ensuring every trade starts with context and ends with control. Cross-Chain by Default, Not by Detour With memecoin trading now stretching across Solana, Ethereum, BNB Chain, Base, Avalanche, and Sui, cross-chain operability is no longer a feature—it's a necessity. MevX 2.0 brings all supported chains into a single dashboard. You can swap between them with a click. Wallets stay synced, sniper logic remains intact, and liquidity scanners instantly adjust to the active network. Users don't have to manually adjust RPCs or re-enter configs—everything lives in the same MevX environment. It's cross-chain, without cross-pain. Supporting the Trader's Entire Workflow The team behind MevX notes that 2.0 was born not out of new feature requests, but out of how people were using the platform. Traders weren't just sniping—they were managing risk, tracking wallet networks, flipping strategies mid-launch, and coordinating with groups. MevX 2.0 simplifies this broader workflow. It's not just about entering trades faster—it's about reducing the cognitive overhead of managing a fast-paced, multi-chain trading life. And in doing so, MevX strengthens its position as the go-to memecoin sniper bot and meme coin trading platform for the modern trader. Availability MevX 2.0 is now live for all users. There is no migration required—just a refreshed experience when logging in via Chrome extension or web interface. The update is compatible across all supported chains and wallets and requires no contract re-approval or new permissions. To test the new experience, MevX also offers a full-featured demo mode that lets users explore the sniper bot logic, interface flow, and wallet tracking tools without needing to connect their own wallet. About MevX MevX is a fully integrated memecoin sniper bot and analytics platform focused on speed, usability, and strategic automation. It combines the power of a custom-built sniper engine with real-time wallet tracking, cross-chain analytics, and multi-wallet coordination. Built by traders, for traders, MevX serves thousands of users across Solana, Ethereum, Base, Avalanche, Sui, and more. Contact David
