South Korean President Yoon Seok-yue issued martial law without warning late at night on the 3rd. The farce quickly ended about 6 hours later. Senior staff of the South Korean presidential office collectively resigned today. The ruling party National Power also asked Yoon Seok-yue to quit the party, and South Korea's largest opposition Democratic Party asked Yoon Seok-yue to quit the party. Step down immediately. Polymarket betting shows that the market expects that the possibility of Yin Xiyue stepping down before the end of 2024 once reached 75%. (Preliminary summary: South Korea's ruling party and opposition party "ignore the president" and want to lift emergency martial law! Upbit once had difficulty in trading) (Background supplement: South Korea's 3-hour martial law farce review: Upbit inserted 62,000 Bitcoin pins, and the armed forces stationed in the National Assembly, Samsung Electronics/South Korean Won is killing...) South Korean President Yoon Seok-yue announced the implementation of emergency martial law in South Korea at 10:25 pm local time on the 3rd without warning, claiming that the South Korean Congress was controlled by pro-North Korean forces and must defend freedom and the constitutional system and clean it up, triggering South Korean financial markets are in chaos. However, shortly after the promulgation of martial law, leaders of both the ruling and opposition parties in South Korea criticized Yun Xiyue's martial law order. Under the pressure of the National Assembly unanimously passing a resolution that night calling for the lifting of martial law, Yun Xiyue announced at 4:27 this morning that he would accept the request of the National Assembly and formally lift the martial law. Martial law. Senior staff of the South Korean Presidential Office collectively resigned, and the ruling party asked Yin Xiyue to quit the party. Since taking office in 2022, Yin Xiyue has been facing difficulties in governing. He is in the minority in the Congress and cannot promote policies. The opposition party has recently pushed for impeachment investigations against its cabinet members, including a special investigation into Mrs. Yin Xiyue's alleged corruption. Analysts believe that martial law is the "nuclear option" implemented by Yin Xiyue in the face of a political crisis. After Yin Xiyue triggered a six-hour martial law uprising, it seemed that even his own staff could not survive. According to Yonhap News Agency, senior presidential staff including the chief of staff resigned collectively on the 4th. Those who resigned included the chief of the presidential secretary’s office (staff Chief) Jung Jin-seok, National Security Office Chief Shin Won-sik, Policy Office Chief Sung Tae-yin, and staff at the chief secretary level and above. It is understood that staff at the level of first secretary and above held a meeting under the chairmanship of Zheng Zhenshuo that morning and agreed to resign collectively. If senior staff resigned collectively, it would cause the presidential office to be paralyzed. Therefore, it is still unknown whether Yin Xiyue will accept all resignations. In addition, Yin Xiyue's behavior cannot even be supported by his own ruling party, the People's Power. Han Dongxun, the leader of the National Power, held a meeting of the party's Supreme Committee this morning. Most members believed that Yin Xiyue's martial law violated the spirit of democracy and the rule of law. Therefore, they demanded Yoon Seok-yue withdraws from the national force, and Defense Minister Kim Yong-hyun, who recommended martial law to Yoon Seok-yue, must resign. Yin Xiyue was originally scheduled to attend an inspection meeting on drug control this morning, but it was postponed due to the martial law crisis. Yin Xiyue's other activities will also inevitably be affected. South Korea's largest opposition party demanded that Yoon Seok-yue step down immediately. At the same time, South Korea's largest opposition party, the Democratic Party of Korea, issued a resolution on the 4th, urging Yoon Seok-yue to step down immediately. The Minjoo Democratic Party issued the above resolution after holding an emergency meeting of members at the National Assembly Building on the 4th, pointing out that Yoon Seok-yue declared emergency martial law. The move is a clear violation of the constitution and does not meet any relevant legal conditions. The declaration of martial law itself is not only fundamentally invalid, but also a serious violation of the constitution and civil strife, which satisfies the conditions for impeachment. The Democratic Party of Korea stated that Yun Seok-yue trampled on the constitution and democracy, and the Democratic Party will never sit idly by and ignore Yoon Seok-yue's criminal behavior that undermines constitutional government. If Yin Xiyue refuses to step down immediately, the Democratic Party will immediately start the impeachment process in accordance with public opinion. The Democratic Party will work with all citizens to fight to the end to defend the democracy and constitutional order of the Republic of Korea. Polymarket betting estimates that the probability of Yin Xiyue stepping down is nearly 60%. Polymarket betting shows that the market expects that the probability of Yin Xiyue stepping down before the end of 2024 reaches 59%, and even reached 75% earlier. Source: Polymarket Related reports Big news! The President of South Korea declares emergency martial law, and the largest Bitcoin pin on Upbit reaches $62,000. South Korea’s largest crypto venture capital broke the news: The government is expected to open up institutional investment in cryptocurrency and allow domestic currency issuance. South Korea has postponed the tax on cryptocurrency profits until 2027, and Taiwan has imposed a new tax on cryptocurrencies. Will the tax process be affected? "South Korea's Martial Law Farce) The presidential staff resigned en masse, the opposition party plans to launch impeachment, and Polymarket betting: There is a 75% chance that Yoon Seok-yue will step down by the end of the year." This article was first published on Dongqu BlockTempo (Dongqu Dongzhi-the most influential Blockchain News Media).