Europol’s latest report names Monero as one of the most used cryptocurrencies on the Darkweb
Earlier this week, the privacy-focused currency logged the highest levels since September 2018
A deeper correction could push XMR towards $108, which should be seen as a buying opportunity
Monero (XMR) price is trading nearly 5% lower this week after an impressive rally that resulted in a new 2-year high. The digital asset focused on privacy has also found itself in the Europol’s latest organized crime report.
Privacy-enhanced cryptocurrencies rising in popularity
In its new report, Europol said privacy-improving wallet services and cryptocurrencies are the ‘top threats’ when it comes to cybercrime. Furthermore, the agency named Monero as one of the most used cryptocurrencies on the Darkweb.
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Europol released the new 2020 Internet Organized Crime Threat Assessment report, in which it mentioned coin mixing tools including Wasabi and Samourai wallets, considered to be “top threats.” Europol also highlighted other aspects that are a matter of concern.
“Samurai, for example, offers remote wipe SMS commands when under distress. These wallets do not necessarily remove the link between the origin and destination of the funds but certainly make cryptocurrency tracing much more challenging,” Europol said.
In the report, the European agency named ‘administrators of underground markets’ who’re associated with such wallet services. In addition, Europol also said a lot of these cybercriminals use hardware cryptocurrency wallets.
The reason for this is because offline wallets safely keep the phrases and “private keys for a wide range of cryptocurrencies.” The report, which provides a thorough observation of online criminal activities around the globe also pointed out the use of privacy cryptocurrencies on the Darkweb.
Europol said that at first, Bitcoin was the most popular transaction tool on the Darkweb, however, over the years, the perpetrators started using other cryptos such as Litecoin, Ethereum, Monero, Zcash, and Dash.
“While Bitcoin still remains the most popular payment method, the use of privacy-enhanced cryptocurrencies has somewhat increased albeit not at the rate expected by their proponents.”
When it comes to Darkweb, Monero is progressively becoming the first-choice transaction tool, followed by Zcash and Dash, Europol said.
Technical analysis: XMR corrects lower
XMR/USD is trading over 4.5% lower this week after the privacy-focused currency logged the highest levels since September 2018. The buyers came close to touch the key short-term target at $140, before a correction started taking place.
Monero weekly chart (TradingView)
The bulls will now fight to secure a weekly close above $121, which is the former multi-year high, which will offer a base for them to attack levels around $140. A deeper correction could push XMR towards $108, which would yield a good entry point to invest in Monero.
The European law enforcement agency Europol released a new report on cybercrime, in which it named Monero as one of the most popular transaction tools on the Darkweb. In the meantime, the price action has corrected lower to test the nearby support.
NEW YORK, Oct. 17, 2020 /PRNewswire/ -- Pomerantz LLP announces that a class action lawsuit has been filed against Odonate Therapeutics, Inc. ("Odonate" or the "Company") (NASDAQ: ODT) and certain of its officers. The class action, filed in United States District Court for the Southern District of California, and docketed under 20-cv-01828, is on behalf of a class consisting of all persons other than Defendants who purchased or otherwise, acquired Odonate securities between December 7, 2017, and August 21, 2020, both dates inclusive (the "Class Period"), seeking to recover damages caused by Defendants' violations of the federal securities laws and to pursue remedies under Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 (the "Exchange Act") and Rule 10b-5 promulgated thereunder, against the Company and certain of its top officials.
If you are a shareholder who purchased Odonate securities during the class period, you have until November 16, 2020, to ask the Court to appoint you as Lead Plaintiff for the class. A copy of the Complaint can be obtained at www.pomerantzlaw.com. To discuss this action, contact Robert S. Willoughby at firstname.lastname@example.org or 888.476.6529 (or 888.4-POMLAW), toll-free, Ext. 7980. Those who inquire by e-mail are encouraged to include their mailing address, telephone number, and the number of shares purchased.
[Click here for information about joining the class action]
Odonate was founded in 2013 and is based in San Diego, California. Odonate is a pharmaceutical company that develops therapeutics for the treatment of cancer. The Company is focused on developing tesetaxel, an orally administered chemotherapy agent.
Tesetaxel is in Phase 3 clinical study for patients with locally advanced or metastatic breast cancer ("MBC"), called the CONTESSA trial, which is evaluating tesetaxel in combination with capecitabine in patients with MBC.
The complaint alleges that throughout the Class Period, Defendants made materially false and misleading statements regarding the Company's business, operational, and compliance policies. Specifically, Defendants made false and/or misleading statements and/or failed to disclose that: (i) tesetaxel was not as safe or well-tolerated as the Company had led investors to believe; (ii) consequently, tesetaxel's commercial viability as a cancer treatment was overstated; and (iii) as a result, the Company's public statements were materially false and misleading at all relevant times.
On August 24, 2020, during pre-market hours, Odonate issued a press release announcing top-line results from the CONTESSA trial. Although the study met its primary endpoint, tesetaxel plus capecitabine was associated with Grade 3 or higher neutropenia (low levels of white blood cells), which occurred in 71.2% of patients with the combination treatment versus 8.3% for capecitabine alone. Various other Grade 3 or higher treatment-emergent adverse events ("AEs") were also associated with tesetaxel plus capecitabine versus capecitabine alone. Further, discontinuation rates were 4.2% from neutropenia and 3.6% from neuropathy, and the overall discontinuation rate was 23.1% in the treatment group compared to 11.9% in the capecitabine alone group.
On this news, Odonate's stock price fell $15.21 per share, or 45.35%, to close at $18.33 per share on August 24, 2020.
The Pomerantz Firm, with offices in New York, Chicago, Los Angeles, and Paris is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 80 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com.
CONTACT:Robert S. WilloughbyPomerantz LLPrswilloughby@pomlaw.com
View original content:https://www.prnewswire.com/news-releases/shareholder-alert--pomerantz-law-firm-reminds-shareholders-with-losses-on-their-investment-in-odonate-therapeutics-inc-and-of-class-action-lawsuit-and-upcoming-deadline--odt-301154354.html
SOURCE Pomerantz LLP
Headhunters in tech from left to right: Jared Furtado and Jana Rich
Towerhill associates/Rich Talent groupHeadhunters help big companies like Dropbox, Uber, and Plaid hire visionaries for top roles and the process is much more involved than simply scanning resumes.
Headhunters have to have multiple conversations with senior people at the company, dissect job descriptions, and more as they try to find the right fit.
Two top tech headhunters share common mistakes they see, like companies that use language that causes them to miss out on up-and-comers with fresh perspectives who can rise to the challenge, or descriptions that are too vague.
Sometimes companies will get bogged down with a long wish list and it's up to the headhunter to cut through the weeds to figure out what's really important.
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Headhunters discreetly keep Silicon Valley companies competitive by finding top talent to fill C-suite positions, taking meetings with high-level movers and shakers in the hopes of placing them in new, lucrative positions.
The process of finding a suitable executive for a hot tech firm is different from how recruiters fill engineering, sales, or product roles: through job sites and scanned resumes, according to cofounder of boutique headhunting firm Towerhill Associates, Jared Furtado.
The most sought-after execs don't upload their resumes to job sites or update their LinkedIns, says Furtado, whose firm has worked with the likes of Uber, Dropbox, and Plaid. That's where headhunters come in.
"You want to keep a search exclusive-feeling: You don't want to just have it blasted out," Furtado said. "That's why job postings, they can be good — because you can certainly get that out there that this company is hiring — but then from a job seeker standpoint, it loses that high-touch feeling. It stops feeling exclusive. And top tier candidates aren't spending their time looking at job postings."
Furtado and cofounder of Rich Talent Group, Jana Rich, laid out the typical process: Client companies will come to a firm to fill a high-level placement — a CTO, or a VP of data science, for instance — and a headhunter will have multiple conversations with members of the executive team to discover the most important attributes a candidate should have. From there, a headhunter will scan through their personal database of potential candidates and ask externally for referrals from colleagues who are in the industry.
Most headhunting firms are paid one of two ways: On contingency or on retainer. Contingency means that firms are paid based on whether or not they find a candidate, whereas firms on retainer are paid a yearly fee.
The real asset of a headhunter is their network: knowing the cream-of-the-crop will help them fill open positions. Towerhill Associates has a database of hundreds of thousands of names it has collected since its inception in 2008 and Furtado himself has placed execs at big-name companies and pre-seed startups alike. Rich Talent Group serves more than 80 high-profile clients like Asana, Airbnb, and Facebook and has placed the CEO of Evite, the president of Uber, and the head of communications at Coinbase, among others.
Furtado and Rich both said there are plenty of bumps along the way when it comes to the hiring process, though, and highlighted three key mistakes that companies tend to make:
Headhunters have to cut through long wish-lists, vague boilerplate language, and unclear or unattainable goals
Companies often come to headhunting firms with a too-long laundry list of must-haves, or use language in their job descriptions that ends up eliminating up-and-coming female or minority candidates right off the bat, says Rich, who has been in the headhunting business since 1996. This can force the company to miss out on diverse voices in their boardrooms or executive suites.
"For example, 'they have to have lead a team of X number of people,' which can really exclude a lot of women, and people of color," Rich said. "So [I'll be] really pushing on them like, 'Okay, this might be the first time this individual has led a 100 person team. But are you open to that?'"
Furtado and Rich both said that companies too-often use boilerplate candidate character descriptions that they haven't quite defined themselves, like "strategic" or "hands-on."
"Even the concept of strategic, what does that mean?" Rich said. "Let's really unpack, what does that even mean? Does that mean they're smart? Does that mean they can think about new business models? And why? When you say strategic, what are examples of projects you have to work on? Because strategic can mean radically different things depending on what it is we're actually talking about."
Vague language makes the process of finding the perfect candidate to lead the company difficult, which is why headhunters often have multiple discussions with current high-level people. Getting a fuller, more concrete understanding of the role helps them pluck the right candidates to interview.
Rich asks questions like: "What are the actual reasons and motivations around why they're seeking to fill this role? And what are the metrics for success going to look like? What are they must-haves versus the nice-to-haves?"
She also often asks client companies why a certain position exists, and what role it plays in the company's overall success: "Our work with them is to try to get the criteria as specific as possible."
Sometimes Rich and Furtado will connect with a company after it has already tried and failed to work with another firm or find someone to fill the role internally. When a firm struggles to fill critical, executive-level positions, headhunters have to help them refine their goals.
"You kind of have to play, detective. What happened?" Furtado said. "If you interviewed 30 candidates for an executive position, that's a lot. Where were the expectations? Maybe the type of skill set you're thinking for, not one person has that. Maybe you have to break this up into two roles."
Rich said the role of a headhunter often requires thinking outside the box and ahead of the client company to find the right fit. Part of the reason companies will use headhunters is to get an outsider's view of what the company can benefit from: Headhunters collect anywhere from 10 to 15 new prospective executives everyday, and are often at the forefront of finding exceptional talent.
"One thing I love," Rich said, "Is that companies will say, 'I wouldn't have found that if it weren't for you and your team.'"