Tom Lee Warns South Korea Stock Rout May Pressure Ether

BitMine Chairman Tom Lee warned that a sharp South Korean stock-market decline could pressure crypto markets if brokerage margin calls force investors to sell other assets, including Ether (ETH). “This major decline in Korean equities likely spilling over into crypto - margin liquidations in brokerage - Koreans major holders of crypto Short term pain $ETH,” Lee wrote on X. The KOSPI stood at 5,996.16, down 388.08 points, or 6.08%, at 9:40 p.m. ET on Oct. 12 (01:40 UTC on Oct. 13), equivalent to 10:40 a.m. KST on Oct. 13.