Tom Lee says South Korea stock slump could spill into crypto

Bitmine Chairman Tom Lee said on X that a sharp drop in South Korea’s stock market could spread to the cryptocurrency market. He said forced selling tied to margin trading was occurring at South Korean securities firms and noted South Koreans are major holders of crypto assets, adding there could be short-term pain. Separately, South Korea’s exchange triggered a sell-side sidecar, a temporary suspension of program sell orders, at around 12:47 a.m. UTC today for the first time in about two months.