Bitcoin has soared in recent months, boosted in part by adoption from major financial institutions, investors and companies, including Tesla. Citadel Securities handles about 40% of the daily retail trading in the U.S. Bitcoin traded above $53,000, putting its six-month gain at more than 350%. Ken Griffin, who runs a sprawling Wall Street empire that includes market-making operations and a hedge fund, was dismissive of cryptocurrencies on Friday even as some see the emerging asset as the future of finance. "I just don't spend much time thinking about cryptocurrencies," the founder and CEO of Citadel told CNBC's Andrew Ross Sorkin on "Squawk Box." "I don't see the economic underpinning of cryptocurrencies. I understand how to value a stock — the net present value of earnings. I understand how to think about currency-exchange rates around the world." "I don't know how to think about what is effectively a digital token," Griffin added. Bitcoin has soared in recent months, boosted in part by adoption from major financial institutions, investors and companies, including Tesla. Employees and customers of major Wall Street banks are also pushing for greater involvement in cryptocurrencies. Bank of New York Mellon , the oldest U.S. bank, said on Feb. 11 it will start financing bitcoin and other digital currencies. Citadel Securities is the market maker that handles about 40% of the daily retail trading in the U.S., making it one of the biggest companies involved in the country's financial plumbing. Griffin also founded a hedge fund named Citadel. Bitcoin traded above $53,000 on Friday, according to Coin Metrics, putting its six-month gain at more than 350%. Griffin's comments on cryptocurrencies came during an interview regarding Citadel's role in the GameStop saga . The firm handled retail trades from discount brokerage Robinhood during the Reddit-fueled short squeeze on the stock, and Griffin testified before Congress on Thursday.https://www.cnbc.com/2021/02/19/ken-griffin-says-he-doesnt-see-economic-underpinning-of-cryptocurrencies.html
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We spoke to Steve in further depth about the importance of this process. "Before we even get into looking at the various practical reasons click over here now for ensuring that you inspect, test and certify all equipment, it's crucial to note that it's actually required by law. So regardless of your own thoughts on the matter, it's something you can't avoid!" warns Steve. The laws to which Steve refers are the Lifting Operations and Lifting Equipment Regulations 1998 (LOLER) and the Provision and Use of Work Equipment Regulations 1998 (PUWER) . These both gain their legal backing from the Health and Safety at Work etc Act 1974 . "LOLER and PUWER both lay out specific requirements when it comes to the use and maintenance of lifting equipment, and it is recommended to familiarise yourself with these documents if you operate with them" advised Steve. LOLER, in conjunction with PUWER, require that all lifting equipment be inspected professionally at least every 12 months. Alongside this, any lifting accessories, such as eyebolts, must be professionally inspected at least every six months. "However, this rule can change based on a number of factors, such as how often you use your equipment, if it's being operated in hazardous environments, and whether it will be lifting people or not" said Steve. He continued "you have a duty and an obligation as an organisation to ensure that all lifting operations are kept as safe and secure as possible. Generally, we recommended sticking with the rule of inspecting as often as possible! Although it can add more time, a check before each operation can go a long way in ensuring the safest possible operation." This is important, because it's not just the law that you must think about when it comes to lifting operations, but the strain it places on workers too. These operations are naturally heavy duty, and the risk to any workers or employees is much greater than other types of operation. 1.3 million people suffered some kind of work related illness in 2017, with 609,000 of these people finding their injury occurring within the workplace itself. Using the right lifting equipment, planning the operation and thoroughly testing and inspecting regularly are all required by LOLER and PUWER, and can help to reduce these injury statistics. For those that are unsure of the right approach or how to get started, the team at Lifting Gear Direct have designed this handy infographic labelling all of the most pertinent information: Lifting Equipment Testing, Inspection and Certification . "It's such an important area that we've crafted this easy-to-read infographic to help users quickly understand the key information. But, this isn't a substitute for having the full knowledge of LOLER and PUWER, and if you are involved in an operation, whether the planning or actual working, you must know these requirements inside and out" said Steve.https://www.prleap.com/pr/261607/lifting-gear-direct-explains-the-importance-of