๐ป ๐๐จ๐ง๐๐จ๐ข๐ง ๐ ๐๐ฅ๐ฅ๐ฌ ๐% ๐๐๐ญ๐๐ซ ๐๐๐ ๐๐๐ง๐ข๐๐ฌ ๐๐จ๐ฅ๐๐๐ง ๐๐ข๐ฌ๐ ๐๐ฅ๐๐ข๐ฆ๐ฌ ๐๐ฒ ๐๐๐ ๐๐๐ญ๐ฐ๐จ๐ซ๐ค
Toncoin (TON) dropped 6% to $2.84 after UAE officials denied that staking $100K in TON tokens qualifies users for a 10-year golden visa.
๐น On Sunday, The Open Network claimed users could get a UAE golden visa by staking $100,000 in TON for 3 years + paying a $35,000 fee.
๐น After the announcement, Toncoin surged 10%, hitting $3.03 โ but the rally was short-lived.
๐น The UAE government later rejected the claim, stating that owning crypto is not a valid path to golden visa eligibility.
๐ค CZ and the Community Raised Red Flags
Binance founder CZ questioned the announcement, saying it lacked official backing.
He added that while he supports Telegramโs Pavel Durov, he believes in โtrust but verify.โ
Some community members suspected the $35,000 fee was just to forward applications to agents who usually charge much less.
Others recalled when Durovโs past claims of a partnership with X (Twitter) were publicly denied by Elon Musk.
๐ข UAEโs Official Statement:
The Federal Authority for Identity, Securities and Commodities Authority, and VARA confirmed:
โ No golden visas are being issued just for staking or holding crypto
โ Crypto investors must follow separate rules
โ Always get info from official sources to avoid scams or fake offers
๐ก The Real Golden Visa Rules:
UAE golden visas are only given to:
Real estate investors (AED 2M+)
Entrepreneurs & business owners
High-income professionals (AED 30,000+/mo)
Scientists, creatives, and top students
๐ The backlash has hurt TONโs credibility, and the price is now correcting as hype fades.