South Korean Martial Law Forces CryptoQuant CEO to Call Musk for Help Immediately

Key Points:

• CryptoQuant CEO Ki Young Ju reached out to Elon Musk on X, urging support after South Korea’s President Yoon Suk Yeol declared martial law.
• The South Korean martial law declaration followed accusations that the opposition party engaged in anti-state activities.

CryptoQuant CEO Ki Young Ju has called upon Elon Musk over the X platform as suddenly there was a political change in South Korea.

Read more: Crypto in South Korea Set for Corporate Account Launch by 2025

CryptoQuant CEO Appeals to Elon Musk as South Korean Martial Law Announced

Ju’s message came out after South Korean President Yoon Suk Yeol declared martial law – a declaration which raised concerns about mass media censorship and, as such, its implication on freedom of speech.

In his post, Ju reiterated the dire need for international support on the situation, especially from the X platform. The declaration of South Korean martial law was announced in a late-night TV address, following months of accusations by President Yoon against the country’s main opposition party, the Democratic Party, of supporting North Korea and anti-state activities.

Although Yoon didn’t provide specific policies, he did refer to counter-actions by the opposition, including motions to impeach top prosecutors and block a government budget.

Crypto Markets Plummet as Geopolitical Tensions in South Korea

A state of South Korean martial law, which generally allows military authority over civilian governance, hasn’t been declared since 1980. This becomes the most momentous event to declare that. The declaration saw significant disruption in financial markets as major cryptocurrencies plummeted as much as 30% against the South Korean Won on local exchanges.

In response to the surge in user activity following the announcement, local crypto exchanges Upbit and Bithumb issued notices regarding delays in their site feeds and performance.