On December 3, Bitcoin's price in South Korea dropped nearly 30% following President Yoon Suk Yeol's declaration of martial law in response to threats from North Korea. The price fell from 130 million KRW to 93.6 million KRW, creating significant volatility in local exchanges. In contrast, Coinbase CEO Brian Armstrong announced that the exchange would sever ties with law firms employing former SEC officials who have taken anti-crypto actions, emphasizing a need for law firms to support the crypto industry. Additionally, retail trading volumes for cryptocurrencies in South Korea surged to $18 billion, surpassing the entire stock market's activity by 22%, amid a rush for altcoins such as Ripple's XRP, which alone recorded over $6.3 billion in trading volume.

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