The novel Coronavirus has taken the world by storm, claiming almost 9,000 deaths out of the total 221,000 positive cases. What was initially thought to be an epidemic outbreak in China has become a pandemic that has gripped at least 176 countries across the inhabited world. Since the time COVID-19 became a global problem, the global economy has kept sulking, with hundreds of thousands of billions lost in stock markets around the world, including major exchanges like the NYSE and the BSE.
During the same period, the crypto industry has crumbled down badly, with Bitcoin losing almost 50% of its value in the last few days. While the crypto industry is finding it hard to keep terms with the testing times, Ripple founder and CEO Brad Garlinghouse tweeted a heartfelt message on Thursday, urging everyone not to forget those who are in need. He added that the wellbeing of the Ripple team is their highest priority at the moment, which is why they have transitioned to work remotely.
Like many businesses, @Ripple's highest priority is the wellbeing of team @Ripple. As COVID-19 developed over the past several months, the global team has transitioned to remote work, in efforts to stay safe while continuing to support our customers. (1/3)
— Brad Garlinghouse (@bgarlinghouse) March 19, 2020
The global emergency created by the Coronavirus seems to be expanding by the day instead of subsidizing, and therefore, the economic problems are expected to worsen with the growing amount of lockdown in the affected countries. Garlinghouse stated that Ripple is doing all it can to ensure that users can send and receive money to and from their loved ones during these testing times. He further added,
“Our global economy is in uncharted waters, but what I’ve learned from history: markets are extremely resilient. No one has all the answers, but in times like this, we can always be kind to one another. Remember no matter where you are, we’re in this together.”