Coinbase Releases its Plan for the Coronavirus Spread

Every day there are new stories of travel disruptions and public gatherings in Asia being cancelled due to the threat of the COVID-19 virus, AKA the coronavirus. Cryptocurrency and traditional markets have also been affected, with Bitcoin dropping 3% in value due to the virus being detected in Italy. When it comes to crypto exchanges handling the spread of the virus, Coinbase is preparing for the worst case scenario. 

According to a document shared publicly by CEO Brian Armstrong, Coinbase is preparing a four-tier escalation response to COVID-19. Each phase of the plan will be triggered by an increase in the number of people infected with the coronavirus or local governments responding with quarantines in close proximity to Coinbase offices.  

Three phases of Coinbase’s response

Once there have been more than 100 cases of “in-the-wild person-to-person virus transmission”, Phase 1 will take effect. Coinbase’s plan includes minor measures like increasing the frequency of…