TechFlow news, October 31 — According to a recent report by Kaiko, South Korea's Bitcoin market traded at approximately 1% discount last week, the second time since September. Historically, due to South Korean regulations restricting cross-border capital flows, Bitcoin has seen as high as 50% "Kimchi premium." When Bitcoin hit record highs in March this year, the premium reached 10%, before declining back to 1-2%.
Meanwhile, amid rumors that the U.S. Department of Justice is investigating Tether over alleged money laundering and sanctions evasion, USDT dropped to an annual low of $0.994 on U.S. exchanges last week. Despite significant sell-offs on Coinbase and Kraken, most fiat markets still showed net buying of USDT.
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