The Seoul Western District Court granted a warrant against Yoon Suk Yeol after he ignored three summons. This marks the first instance of a sitting president facing such legal action in South Korea, raising concerns among investors.
Yoon’s attempt to impose martial law on December 3 triggered drastic declines in Bitcoin prices, dropping to approximately 30,000 USD due to a liquidity crisis. MAJOR cryptocurrencies like Ethereum and XRP also suffered declines of up to 4%.
The implications of Yoon’s arrest warrant reflect wider uncertainty in South Korea’s crypto markets. The connection between political dynamics and cryptocurrency performance underscores the volatility traders must navigate.
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