South Korean Stock Market Plunges Amid AI Crash Fears, Musk Predicts Money's Demise

The South Korean stock market experienced its worst summer in two months, hitting circuit breakers six times. An on-chain flash crash in SK Hynix triggered a Hyperliquid liquidation wave, dragging down AI hardware stocks and the entire market.

Regulators rushed to put out fires, but the risk transmission chain is still worth watching closely. Meanwhile, Tom Lee believes that the current AI crash is an unwinding of leverage, not a bubble bursting, and advises investors to avoid swing trading.

The cryptocurrency market saw some stability, with Bitcoin becoming a low-volatility asset. However, the future of money remains uncertain, with Elon Musk predicting that money will no longer matter by 2036 and Bitcoin potentially becoming key.