🚨 Golden Visa Hopes Crushed: UAE Rejects $TON Staking Claim, Toncoin Slides 🚨

What started as a bold promise turned into a sharp rejection — and the market felt it.

TON Foundation CEO Max Crown had announced a pathway to a UAE Golden Visa for Toncoin holders: stake $100,000 in TON for 3 years and pay $35,000 upfront. It was pitched as a major leap for real-world crypto utility.

But on Sunday, UAE authorities shut the door.

The Federal Authority for Identity, Citizenship, Customs and Port Security (ICP), Securities and Commodities Authority (SCA), and Virtual Assets Regulatory Authority (VARA) publicly denied any partnership or plan with TON Foundation.

💥 Result?

Toncoin’s weekend surge reversed fast. After touching $3 on Sunday, $TON fell back to $2.83, and by Monday, another 1% down. Traders dumped bullish bets, and futures sentiment soured as TON failed to break its 7-month resistance trendline.

📉 Next support levels to watch:

🔹 $2.73 – June 22 bearish close

🔹 $2.52 – 2025’s lowest daily close

🧠 Takeaway:

The rejection has shaken investor confidence. With UAE officials urging caution, TON’s golden visa narrative may have done more harm than good.

What’s your take — was this a misstep or just poor timing from the $TON team? 👇💬

#Toncoin #TON #CryptoNews #UAE #GoldenVisa #CryptoMarket #Altcoins #TONUpdate