Latest news with #CFOTO
RNZ News
2 hours ago
- Business
- RNZ News
Sharesies to offer trading in Bitcoin, other cryptocurrency
Bitcoin has ranged between NZ$129,000 and NZ$201,000 so far this year. Photo: CFOTO / NurPhoto via AFP Online investment platform Sharesies is expanding into cryptocurrency trading. Co-chief executive Leighton Roberts said it was responding to customer demand. "More and more people either own crypto or are interested in doing so. As the asset class has matured, we've seen it become more prominent in both institutional and personal investment portfolios. "At Sharesies, we see an opportunity to make crypto investment more straightforward and less overwhelming for New Zealanders -whether they are new to crypto or seasoned investors who want to reduce complexity." Sharesies customers can sign up to a waiting list to get early access to trading, expected to be in August. Roberts said Sharesies would look to remove some of the complexity associated with crypto wallets and keys, and would partner with a leading crypto platform to allow retail customers to be able to buy, sell and hold crypto. It was expected that leading crypto brands such as Bitcoin and Ethereum would be available. Roberts accepted that crypto could be highly volatile and carried higher risk. "As always, we'll be taking an educational approach with a number of initiatives planned to assist customers. We acknowledge that crypto may not be for everyone, but we want to provide people with choice." Bitcoin has ranged between US$77,000 (NZ$129,000) and US$120,000 (NZ$201,000) so far this year. Sign up for Ngā Pitopito Kōrero, a daily newsletter curated by our editors and delivered straight to your inbox every weekday.
Forbes
5 days ago
- Business
- Forbes
Cut 'Em Loose With No Government Props
(CFOTO/Future Publishing via Getty Images) CFOTO/Future Publishing via Getty Images The Trump Administration is seriously considering privatizing Fannie Mae and Freddie Mac. It's long past time that it did this. The business of these two giants is to bundle and sell mortgages to investors with a government guarantee. That is, investors are covered if there are losses because of homeowner defaults. Washington, via the Federal Housing Finance Agency, took control of both entities in 2008 because of their massive losses. The seizures were called 'conservatorships.' The takeover was supposed to be temporary, yet here we are nearly a generation later, and the conservatorships are still intact. Fannie and Freddie are the elephants in the housing market, backing some $7 trillion in mortgages. They have an eye-popping line of credit with the Treasury Department of $254 billion. They charge a so-called guarantee fee of around two-thirds of 1% on each mortgage. Fannie tends to work with larger financial institutions, while Freddie goes with smaller ones. It's a nice business. As President Trump noted, they are gushing cash. Trumpites estimate the market cap of these two monsters would be $330 billion, with the government's share coming to more than $250 billion. In these times of rivers of red ink in Washington, the prospect of getting that much cash without raising taxes should be irresistible. The two got into trouble because they went heavily into debt. Why not, they figured. The higher the leverage, the bigger the profits, which shareholders loved. They could borrow at rock-bottom interest rates because there was an implicit government guarantee. It wasn't written into law, but the markets figured Uncle Sam would come to the rescue if there were trouble. That ar-rived with the financial crisis that began in 2007, when the housing market was imploding. Washington stepped in. But shareholders were largely wiped out. What made the two particularly complacent was their extraordinary political muscle, especially Fannie Mae's. They made sure every member of Congress learned how important they were to constituents involved in local housing markets. And jobs were to be had for congressional relatives and friends. The challenges of pushing Fannie and Freddie out of the Washington nest are real, but that shouldn't deter the move. Critics say changing the status quo will raise mortgage rates, a particularly sensitive topic at a time when housing affordability is a big issue. If Fannie and Freddie are to be truly private companies, they'll need higher profits, which could lead to more expensive mortgages. Guarantee fees for mortgages would also likely go up. This is why the Trump Administration doesn't want to do away with guarantees, implicit or explicit. But this would put Fannie and Freddie back where they were when they got in trouble. If there are any guarantees, the two monsters should have to pay Uncle Sam realistic insurance fees, which would run into the tens of billions of dollars. Critics underestimate the power of competition. Instead, the two enterprises should be broken up. Competition works. As for mortgage rates, the problem is the Federal Reserve, whose ignorance of inflation is keeping the cost ofmoney unnecessarily high.
Forbes
16-07-2025
- Business
- Forbes
What's Happening With SBET Stock?
SHIYAN, CHINA - JUNE 21, 2025 - Photos of US dollars and Ethereum coins taken in Shiyan City, Hubei ... More Province, China on June 21, 2025. (Photo credit should read CFOTO/Future Publishing via Getty Images) SharpLink Gaming (SBET) has transformed from a struggling marketing company into a high-volatility Ethereum proxy, delivering extreme price swings that reflect cryptocurrency market dynamics. SharpLink's stock performance tells a dramatic story. On May 21, the stock traded at $3 per share before surging to $79 on May 29 following the Ethereum investment announcement—a 2,533% gain in eight days. The euphoria was short-lived as the stock crashed to $9 on June 23 after announcing substantial equity offering plans, triggering an 89% decline as dilution fears dominated. The stock has since recovered to $32 as SharpLink became the world's largest corporate Ethereum holder. The Ethereum Connection The company now holds approximately 300,000 ETH tokens, the largest corporate Ethereum position globally. At current prices, this holding significantly exceeds the company's historical market value. Ethereum has surged 22% in the past month driven by expectations of Federal Reserve rate cuts, and SharpLink directly benefits from any ETH price appreciation. Related – Will The Rally In XRP Price Continue? Valuation Reality Traditional equity analysis provides limited insight because investors are not valuing SBET based on operational performance. Instead, they are pricing in potential future ETH appreciation while treating the company's core business metrics as secondary. This creates what appears to be expensive valuations by conventional standards, but investors are paying for direct cryptocurrency exposure through public markets. Separately, see – Trump's Russia Math, Simplified Investment Considerations and Risks Extreme volatility has become the new normal for SBET stock, with double-digit price swings, or more, expected rather than exceptional. The strategy carries significant risks: performance depends entirely on Ethereum's price movements, regulatory uncertainty could affect viability, future equity offerings could dilute per-share exposure, and managing close to $1 billion crypto treasury requires specialized expertise beyond traditional marketing operations. This investment suits investors bullish on Ethereum's long-term prospects who can tolerate extreme volatility. It's unsuitable for traditional equity investors seeking fundamentally undervalued stocks, income-focused investors, or risk-averse participants unable to handle massive price swings. Now, we apply a risk assessment framework while constructing Trefis High Quality (HQ) Portfolio which, with a collection of 30 stocks, has a track record of comfortably outperforming the S&P 500 over the last 4-year period. Why is that? As a group, HQ Portfolio stocks provided better returns with less risk versus the benchmark index; less of a roller-coaster ride as evident in HQ Portfolio performance metrics. Overall, SharpLink represents a high-risk, high-reward way to gain Ethereum exposure through public markets. Success depends entirely on ETH's price trajectory and the company's ability to maintain its crypto treasury strategy without excessive dilution.
RNZ News
10-07-2025
- Climate
- RNZ News
Rivers in southwest China breach warning levels, with thousands evacuated
Rescue workers conduct drainage operations in a store in Chongqing, China. Photo: Chen Shichuan / CFOTO via AFP Twenty-five rivers in southwestern China exceeded safe levels on Thursday, state media said, after more than 10,000 people were evacuated as the remnants of former typhoon Danas converged with East Asian monsoon rains. Extreme rainfall and severe flooding, which meteorologists link to climate change, increasingly pose major challenges as they threaten to overwhelm ageing flood defences, displace millions and wreak havoc on a $2.8-trillion agricultural sector. Heavy rains also hit the capital, Beijing, with one area in the sprawling Chaoyang district receiving 68.2 mm (2.7 inches) of rain in a single hour on Thursday morning (local time), the state-run Beijing Daily said. Ten southwestern rivers, including the Longyan, which flows through the densely populated region of Chongqing, could burst their embankments and levees at any time, broadcaster CCTV warned, citing the water resources ministry. The remaining 15 had exceeded levels at which they could burst their banks, but posed less of a risk, it added. More than 24 hours of torrential rain took levels in the Chishui River of Guizhou province to their highest since records began in 1953, the broadcaster said, while the Xiaocao River in Sichuan province stood at its highest in 29 years. More than 10,000 people were evacuated on Wednesday (local time) from cities in the provinces of Sichuan and Yunnan, state media said, as the East Asian monsoon rains pushed north from India. One county in Yunnan recorded 227.8 mm (9 inches) of rainfall in 24 hours, for its highest total in a single day since records began in 1958 while two people died as torrential rain hit Yunnan's Zhaotong city, Xinhua said on Thursday (local time). Beijing health authorities warned that the combination of frequent downpours, high temperatures and humidity increased the risk of water and food contamination. - Reuters
Scotsman
10-07-2025
- Entertainment
- Scotsman
Popular Scottish toy shop dropped suddenly by viral soft toy brand Jellycat after 20 years
Jellycats became an internet obsession during Covid | CFOTO/Future Publishing via Getty The sought-after plushies became an internet obsession among Gen Z after Covid Sign up to our daily newsletter – Regular news stories and round-ups from around Scotland direct to your inbox Sign up Thank you for signing up! Did you know with a Digital Subscription to The Scotsman, you can get unlimited access to the website including our premium content, as well as benefiting from fewer ads, loyalty rewards and much more. Learn More Sorry, there seem to be some issues. Please try again later. Submitting... A popular toy shop in Edinburgh has accused the viral soft toy supplier Jellycat of treating them with 'contempt' after the brand cut them off out of the blue. Toys Galore, an independent toy shop in Morningside, took to social media on Wednesday calling out the global company after receiving a letter informing them that Jellycat would no longer be supplying its products to the business. Advertisement Hide Ad Advertisement Hide Ad The letter said the decision to drop the store was made as part of a new 'brand elevation strategy'. The collectable soft toys have exploded in popularity in recent years and are hugely sought after, having boomed among Gen Z consumers in particular. Jellycats became an internet obsession during Covid | CFOTO/Future Publishing via Getty Toys Galore said it had sold Jellycat's products for 20 years and represented 8 per cent of their sales. It said: 'It is an extraordinary decision for Jellycat to turn their back on loyal stockists who have supported Jellycat for many years. Advertisement Hide Ad Advertisement Hide Ad 'Jellycat has been around for 25 years and has become hugely successful. However, they wouldn't have got anywhere without the support of independent shops, who were prepared to invest time, effort and money promoting their product. 'Rather than reward the stockists who have supported them over decades, they choose to pull the rug.' The shop said when it reached out to Jellycat for an explanation they received no response, claiming they had been 'ghosted' by the brand. 'What strikes us about how this has been handled is the contempt not only shown towards us, but to our customers too. If customers want to buy Jellycat from us instead of some high end department store, why shouldn't they?' the post said. Advertisement Hide Ad Advertisement Hide Ad 'None of our other suppliers have ever treated us with such disrespect.' The Edinburgh store said it will take a hit after the toy brand closed it accounts | Google It said the boom in Jellycat sales had helped the store recover from a difficult period after the pandemic. Toys Galore is not the only store to have been dropped by Jellycat in recent months, with the company saying in a statement it has stopped supplying around 100 stores as part of its new strategy. A Jellycat spokesperson said: 'We are big supporters of small business stockists and today there are over 1,200 independent stores across the UK stocking Jellycat. They've been the backbone of our business for over two decades and this will continue long into the future as we build our teams and upgrade our systems to support them better. Advertisement Hide Ad Advertisement Hide Ad 'Unfortunately we're not able to support every shop that wants to stock Jellycat and, after very careful consideration, we recently ceased supplying about 100 stores. 'We are very sorry about this and the hurt it has caused for those retailers and their customers. Slightly reducing our stockists by 8 per cent will help us to give better service to the remaining 92 per cent, so they can offer their customers the best possible Jellycat experience.' It said it was 'humbled' by its recent recent growth and was continuing to work hard to supply stockists of all sizes. Toys Galore claimed it had also been treated unfairly in 2023 when another stockist opened nearby. As a result, it said it got cut off several Jellycat lines but did not speak publicly about it to avoid alienating the supplier. Advertisement Hide Ad Advertisement Hide Ad Commenting on the post, another shop owner said: 'Jellycat used to be fair and support independents - I couldn't stock in my toy shop in Warwickshire as there was another shop in town. We thought fair enough. 'Glad you're highlighting how independents build brands and then are dumped.' Another user said: 'I'm disgusted with the number of fabulous shops that have received this letter. I for one will be boycotting Jellycat from now on.' The explosion of Jellycat toys is part of a trend dubbed 'kidulthood' which has seen millions of adults buying kids toys and games. Advertisement Hide Ad Advertisement Hide Ad Despite being established 25 years ago, Jellycat became an obsession during Covid and saw a frenzy on TikTok in 2023. Its account on TikTok has 23.7 million likes and new lines sell out instantly, with people queuing for hours outside stores to get hold of new plushies when they are released.
