Tom Lee: The sharp decline in the South Korean stock market may affect the cryptocurrency market, causing short-term pain

Tom Lee, Chairman of the Ethereum treasury company BitMine, stated that the significant decline in the South Korean stock market may be transmitting to the cryptocurrency market.

He mentioned the forced liquidation of margins on the brokerage side and pointed out that South Korean investors are an important holding group for crypto assets. He described this impact as short-term pain.