On the $p$-adic deformation problem for the $K$-theory of semistable schemes

We establish a semistable generalization of the Beilinson-Bloch-Esnault-Kerz fiber square, relating the algebraic K-theory of a semistable scheme to its logarithmic topological cyclic homology. We prove that the obstruction to lifting K-theory classes is governed by the Hyodo-Kato Chern character. This answers the $p$-adic deformation problem for continuous K-theory in the semistable case, extending the work of Antieau-Mathew-Morrow-Nikolaus. As an application, we provide a purely K-theoretic proof of Yamashita's semistable $p$-adic Lefschetz $(1,1)$-theorem.