The coronavirus has wreaked havoc across the globe, and the crypto world has had it's a fair share of struggle too. The March market meltdown and bitcoin price crash has impacted a lot of blockchain projects and cryptocurrency deals. The new victim of it seems to be the partnership between Softbank Group, Ripple's partner which has just<a href="https://www.japantimes.co.jp/news/2020/04/08/business/corporate-business/wework-sues-softbank/#.Xo1tdcgzaUl"> terminated</a> its contract with WeWork due to impact it has had on customers and now WeWork is planning to die the cooperation.
<h2>Reasons For This Sudden Decision By Softbank Group</h2>
In October 2019 Softbank group has a tender set up worth $3 billion which WeWork won. The amount was just 1/3rd of the total amount ($9.1 billion), which Softbank Group obliged to give to take the worries of WeWork away who were facing tremendous difficulties financially. In return, Softbank would take total control over the firm.

However, as the coronavirus has broken through the shackles of China and is spreading like wildfire all across the globe, it is galloping down almost everything in its sight. Seeing how helpless customers have become due to the pandemic, the Softbank group has decided to call the quits with immediate effect.

The financial heavyweight says that the Covid-19 impact has left a lot of customers confused, and since they are not participating as much as they would have liked, they are deciding to cut the deal short. They also added that WeWork has lately been in controversy for a criminal investigation in the US and tip this as another reason behind their backing off.

WeWork however, is in no mood to let the group have their way so easily and is planning a lawsuit against the Softbank group. In the engine after this deal has ended, they are working on deciding a deal with Trustbridge Partners.

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Softbank Group Terminates Its Contract With WeWork

Partner of Ripple, theSoftbank Group has decided to end their partnership with WeWork, citing the coronavirus and its criminal involvement as reasons.

Zain is a fervid fan of bitcoin and has been meticulously covering the field for a fair amount of time now. An aficionado of Spider man, Liverpool and Slim Shady.

Softbank Group Terminates Its Contract With WeWork

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