Night of transistors in South Korea. The president, the conservative Yoon Suk-Yeol, has attempted to declare martial law, to shut down Parliament, suspend political activities, and take control of the press. The news has caused a 'shock' in the markets, leading the South Korean won to fall 2.2% against the dollar and bitcoin to suffer a 'flash crash' - a sudden collapse - of 33% in just minutes in local markets, amid fears of a greater crisis.

The failed self-coup has caused tremors in the markets. Bitcoin has suddenly plummeted from about $96,000 to around $66,000 in major South Korean exchanges, following a flood of sell orders that dramatically multiplied the trading volume of a normal day. An hour and a half later, bitcoin continues to drop 2.66% in South Korean markets. A value similar to that of the won against the dollar, falling to its lowest level in two years.

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