Bitcoin24h $80,908.83+5.75%

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BNB24h $763.86+4.99%

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Solana24h $112.12+11.17%

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Monero24h $555.03+8.88%

Crypto firms are struggling in South Korea

South Korean crypto exchanges Upbit and Bithumb have seen revenues plummet this year amid a wider downturn for crypto firms in the country.

South Korea’s KOSPI has erased more than Bitcoin’s market cap in 29 days

The KOSPI has erased about $1.6T of market value since June 19, more than all the BTC in the world is worth.

South Korea’s KRX activated its 38th trading pause this year after more downward volatility crashed the price of the KOSPI by 4.46%.

A 20-year-old allegedly stabbed a South Korean investment YouTuber on the same day the country’s stock market crashed 9%.

SK Hynix’s new ADR rose 12.7% on its Nasdaq debut Friday. Then Seoul dropped -12.6% on Monday, leaving many US buyers in the red.