South Korean exchanges like Upbit and Bithumb experienced temporary trading volume spikes and performance delays.
Bitcoin and XRP faced significant price volatility on South Korean exchanges, with temporary declines of up to 30%.
Bloomberg
Recent political developments in the US pushed crypto
market to unprecedent levels with Bitcoin recently reaching an all-time-high of
$99K. However, the developing political chaos in South Korea is reversing some of these gains.
The country plunged into political chaos today (Tuesday)
when President Yoon Suk Yeol declared emergency martial law. The Head of state
accused the opposition Democratic Party of Korea (DPK) of plotting rebellion
and undermining the nation's government, the Korea Times reported.
Bitcoin and XRP Prices Affected
This extraordinary decision has escalated tensions in
the country’s already polarized political landscape while triggering shockwaves
in cryptocurrency prices, especially among the region's exchanges.
At the time of publication, XRP was down 12% in the
past day to trade at $2.45, according to CoinMarketCap. This is despite the
crypto, now ranked 3rd with a market cap of $139 billion, soaring
100% in the weekly chart.
XRP Price Chart, Source: CoinMarketCap
The political developments have also affected the leading
cryptocurrencies with most tokens now flashing red lights. Bitcoin is down 1.555
in the past day to $95k, while Ethereum has also dropped nearly 3%.
In a televised address, Yoon accused the opposition of
paralyzing the government through anti-state activities and described the
declaration of martial law as essential to safeguarding the nation’s democratic
foundations.
According to Yoon, this initiative is aimed at
eradicating pro-North Korean forces and protecting the constitutional order of
freedom. Bitcoin and XRP saw sharp, two of the recent top performers in the sector,
temporarily declined up to 30% on South Korean exchanges like Upbit, Coindesk
reported.
Trading volumes on local platforms, which often rival
global giants such as Binance and Coinbase, surged as traders reacted to the
news. Upbit and Bithumb, two of South Korea's largest
cryptocurrency exchanges, issued notices warning users about delayed site
performance due to the spike in activity.
Political Uncertainty in South Korea
The tipping point reportedly came when the DPK pushed
through a downsized budget bill and initiated impeachment motions against
senior government officials, including the state auditor and the chief
prosecutor.
Yoon further reportedly accused the DPK of shielding
its leader, Lee Jae-myung, from ongoing criminal trials. Under South Korea's constitution, martial law reportedly
grants the president sweeping powers, including the ability to restrict
freedoms such as press, assembly, and judicial independence.
The DPK, which holds a majority in the 300-seat
National Assembly, could technically terminate martial law through a vote.
However, access to the assembly was reportedly blocked shortly after Yoon's
declaration, preventing immediate action.
Recent political developments in the US pushed crypto
market to unprecedent levels with Bitcoin recently reaching an all-time-high of
$99K. However, the developing political chaos in South Korea is reversing some of these gains.
The country plunged into political chaos today (Tuesday)
when President Yoon Suk Yeol declared emergency martial law. The Head of state
accused the opposition Democratic Party of Korea (DPK) of plotting rebellion
and undermining the nation's government, the Korea Times reported.
Bitcoin and XRP Prices Affected
This extraordinary decision has escalated tensions in
the country’s already polarized political landscape while triggering shockwaves
in cryptocurrency prices, especially among the region's exchanges.
At the time of publication, XRP was down 12% in the
past day to trade at $2.45, according to CoinMarketCap. This is despite the
crypto, now ranked 3rd with a market cap of $139 billion, soaring
100% in the weekly chart.
XRP Price Chart, Source: CoinMarketCap
The political developments have also affected the leading
cryptocurrencies with most tokens now flashing red lights. Bitcoin is down 1.555
in the past day to $95k, while Ethereum has also dropped nearly 3%.
In a televised address, Yoon accused the opposition of
paralyzing the government through anti-state activities and described the
declaration of martial law as essential to safeguarding the nation’s democratic
foundations.
According to Yoon, this initiative is aimed at
eradicating pro-North Korean forces and protecting the constitutional order of
freedom. Bitcoin and XRP saw sharp, two of the recent top performers in the sector,
temporarily declined up to 30% on South Korean exchanges like Upbit, Coindesk
reported.
Trading volumes on local platforms, which often rival
global giants such as Binance and Coinbase, surged as traders reacted to the
news. Upbit and Bithumb, two of South Korea's largest
cryptocurrency exchanges, issued notices warning users about delayed site
performance due to the spike in activity.
Political Uncertainty in South Korea
The tipping point reportedly came when the DPK pushed
through a downsized budget bill and initiated impeachment motions against
senior government officials, including the state auditor and the chief
prosecutor.
Yoon further reportedly accused the DPK of shielding
its leader, Lee Jae-myung, from ongoing criminal trials. Under South Korea's constitution, martial law reportedly
grants the president sweeping powers, including the ability to restrict
freedoms such as press, assembly, and judicial independence.
The DPK, which holds a majority in the 300-seat
National Assembly, could technically terminate martial law through a vote.
However, access to the assembly was reportedly blocked shortly after Yoon's
declaration, preventing immediate action.
Coinbase Enters Prediction Markets as the Amazonification of Financial Platforms Gathers Pace
Executive Interview | Charlotte Bullock | Chief Product Officer, Bank of London | FMLS:25
Executive Interview | Charlotte Bullock | Chief Product Officer, Bank of London | FMLS:25
In this interview, we sat down with Charlotte Bullock, Head of Product at The Bank of London, previously at SAP and now shaping product at one of the sector’s most ambitious new banking players.
Charlotte reflects on the Summit so far and talks about the culture inside fintech banks today. We look at the pressures that come with scaling, and how firms can hold onto the nimble approach that made them stand out early on.
We also cover the state of payments ahead of her appearance on the payments roundtable: the blockages financial firms face, the areas that still need fixing, and what a realistic solution looks like in 2026.
In this interview, we sat down with Charlotte Bullock, Head of Product at The Bank of London, previously at SAP and now shaping product at one of the sector’s most ambitious new banking players.
Charlotte reflects on the Summit so far and talks about the culture inside fintech banks today. We look at the pressures that come with scaling, and how firms can hold onto the nimble approach that made them stand out early on.
We also cover the state of payments ahead of her appearance on the payments roundtable: the blockages financial firms face, the areas that still need fixing, and what a realistic solution looks like in 2026.
In this conversation, we sit down with Drew Niv, CSO at ATFX Connect and one of the most influential figures in modern FX.
We speak about market structure, the institutional view on liquidity, and the sharp rise of prop trading, a sector Drew has been commenting on in recent months. Drew explains why he once dismissed prop trading, why his view changed, and what he now thinks the model means for brokers, clients and risk managers.
We explore subscription-fee dependency, the high reneging rate, and the long-term challenge: how brokers can build a more stable and honest version of the model. Drew also talks about the traffic advantage standalone prop firms have built and why brokers may still win in the long run if they take the right approach.
In this conversation, we sit down with Drew Niv, CSO at ATFX Connect and one of the most influential figures in modern FX.
We speak about market structure, the institutional view on liquidity, and the sharp rise of prop trading, a sector Drew has been commenting on in recent months. Drew explains why he once dismissed prop trading, why his view changed, and what he now thinks the model means for brokers, clients and risk managers.
We explore subscription-fee dependency, the high reneging rate, and the long-term challenge: how brokers can build a more stable and honest version of the model. Drew also talks about the traffic advantage standalone prop firms have built and why brokers may still win in the long run if they take the right approach.
Executive Interview | Remonda Z. Kirketerp Møller| CEO & Founder Muinmos | FMLS:25
Executive Interview | Remonda Z. Kirketerp Møller| CEO & Founder Muinmos | FMLS:25
In this interview, Remonda Z. Kirketerp Møller, founder of Muinmos, breaks down the state of AI in regtech and what responsible adoption really looks like for brokers. We talk about rising fragmentation, the pressures around compliance accuracy, and why most firms are still in the early stages of AI maturity.
Ramanda also shares insights on regulator sandboxes, shifting expectations around accountability, and the current reality of MiCA licensing and passporting in Europe.
A concise look at where compliance, onboarding, and AI-driven processes are heading next.
In this interview, Remonda Z. Kirketerp Møller, founder of Muinmos, breaks down the state of AI in regtech and what responsible adoption really looks like for brokers. We talk about rising fragmentation, the pressures around compliance accuracy, and why most firms are still in the early stages of AI maturity.
Ramanda also shares insights on regulator sandboxes, shifting expectations around accountability, and the current reality of MiCA licensing and passporting in Europe.
A concise look at where compliance, onboarding, and AI-driven processes are heading next.
In this conversation, we speak with Aydin Bonabi, CEO and co-founder of Surveill, a firm focused on fraud detection and AI-driven compliance tools for financial institutions.
We start with Aydin’s view of the Summit and the challenges brokers face as fraud tactics grow more complex. He explains how firms can stay ahead through real-time signals, data patterns, and early-stage detection.
We also talk about AI training and why compliance teams often struggle to keep models accurate, fair, and aligned with regulatory expectations. Aydin breaks down what “good” AI training looks like inside a financial environment, including the importance of clean data, domain expertise, and human oversight.
He closes with a clear message: fraud is scaling, and so must the tools that stop it.
In this conversation, we speak with Aydin Bonabi, CEO and co-founder of Surveill, a firm focused on fraud detection and AI-driven compliance tools for financial institutions.
We start with Aydin’s view of the Summit and the challenges brokers face as fraud tactics grow more complex. He explains how firms can stay ahead through real-time signals, data patterns, and early-stage detection.
We also talk about AI training and why compliance teams often struggle to keep models accurate, fair, and aligned with regulatory expectations. Aydin breaks down what “good” AI training looks like inside a financial environment, including the importance of clean data, domain expertise, and human oversight.
He closes with a clear message: fraud is scaling, and so must the tools that stop it.
Exness expands its presence in Africa: Inside our interview with Paul Margarites in Cape Town
Exness expands its presence in Africa: Inside our interview with Paul Margarites in Cape Town
Finance Magnates met with Paul Margarites, Exness regional commercial director for Sub-Saharan Africa, during a visit to the firm’s office opening in Cape Town. In this talk, led by Andrea Badiola Mateos, Co-CEO at Finance Magnates, Paul shares views on the South African trading space, local user behavior, mobile trends, regulation, team growth, and how Exness plans to grow in more markets across the region. @Exness
Read the article at: https://www.financemagnates.com/thought-leadership/exness-expands-its-presence-in-africa-inside-our-interview-with-paul-margarites/
#exness #financemagnates #exnesstrading #CFDtrading #tradeonline #africanews #capetown
Finance Magnates met with Paul Margarites, Exness regional commercial director for Sub-Saharan Africa, during a visit to the firm’s office opening in Cape Town. In this talk, led by Andrea Badiola Mateos, Co-CEO at Finance Magnates, Paul shares views on the South African trading space, local user behavior, mobile trends, regulation, team growth, and how Exness plans to grow in more markets across the region. @Exness
Read the article at: https://www.financemagnates.com/thought-leadership/exness-expands-its-presence-in-africa-inside-our-interview-with-paul-margarites/
#exness #financemagnates #exnesstrading #CFDtrading #tradeonline #africanews #capetown
