The Open Network (TON), a blockchain platform with the illustrious backing of Telegram, has recently conjured a most peculiar offer, promising a 10-year UAE Golden Visa to those who stake at least $100,000 worth of Toncoin (TON) for a mere three years. How delightfully extravagant!
Moreover, TON assures us that the visa process, typically a labyrinthine ordeal, can be completed in under seven weeks, with the entire affair managed by UAE-based partners. The offer is further embellished with an estimated 3 to 4 percent annual yield on staked TON and the inclusion of immediate family members. Oh, the generosity!
$100K Stake, $35K Fee—but Where’s the Proof?
According to the whispers of the digital realm, applicants must stake TON for three years and pay a rather substantial fee to gain access to a long-term UAE visa. However, Changpeng Zhao (CZ), the sage of Binance, has cast a skeptical eye upon this offer, noting that Golden Visas via agents usually cost around $1,000, making this proposition seem rather, shall we say, inflated.
He also pointed out that staking is a regulated activity in the UAE, one that would likely require the imprimatur of local authorities such as VARA and ADGM. Yet, curiously, there has been no public statement from any official body. How mysterious!
CZ Calls It “Too Good to Be True”
I am a supporter of Durov, especially given his current situation.
But I like to “trust but verify”.
I’d expect something like this to have a government partnership, and announcement.
It might still be true, just saying I haven’t been able to verify.
— CZ BNB (@cz_binance) July 6, 2025
CZ, the founder of Binance, has expressed his reservations about the offer, questioning its legitimacy. He finds the lack of confirmation from UAE government sources rather suspicious, making the deal “too good to be true.” While some users noted that Telegram founder Pavel Durov had reposted the offer, CZ remains cautious, stating he prefers to trust but verify.
Despite his skepticism, CZ remains open to the idea. If the TON staking-for-visa claim turns out to be true, he said he would explore a similar opportunity using Binance Coin (BNB). Binance, after all, has deep roots in the UAE, with CZ holding UAE citizenship and the exchange receiving regulatory approvals in both Dubai and Abu Dhabi.
UAE Regulators Deny Crypto-Based Visa Claims
However, UAE regulators, in a joint statement, have denied offering Golden Visas to crypto investors, clarifying that such visas are limited to approved categories like real estate investors, scientists, and top graduates. They have urged the public to avoid unverified offers of getting a UAE crypto visa and to only deal with licensed crypto entities, stating that no official backing exists for TON’s program. How disappointing!
TON Price Rallies
As speculation swirls like a tempest, the TON token is seeing a surge. It spiked 6% to $2.90, briefly touching $3.05 before settling. The trading volume has surged to $643 million in 24 hours, representing a 607% increase. With crypto markets experiencing an overall boost from a weekend rally, an official confirmation from the UAE could send TON soaring even higher. How thrilling!
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2025-07-07 08:52