CZ’s doubts over TON’s visa offer highlight the need for official confirmation before tying crypto to high-stakes residency programs.
TON’s active promotion without UAE approval raises credibility issues and risks investor trust across the crypto-residency space.
UAE’s strong Web3 framework clashes with TON’s unverified claim, prompting calls for transparency to protect the crypto ecosystem.
The Open Network (TON) announced a UAE Golden Visa program tied to a $100,000 Toncoin stake. The offer promised 10-year residency within seven weeks, drawing mixed reactions. However, former Binance CEO Changpeng “CZ” Zhao publicly questioned the program’s legitimacy, pointing out the absence of any UAE government confirmation. This has cast serious doubt on the entire initiative and sparked concern among investors and regulators
CZ Demands Clarity on Visa Claims
CZ responded directly on X, stating, “Is this real?” and expressed confusion over conflicting information. He stressed the lack of any official UAE government website mentioning Toncoin-based visa offers. “It would be awesome IF it is true,” he added, but warned that no official agency has backed the program so far.
Moreover, TON has not retracted the claim despite the rising criticism. The promotional webpage remains active, raising further credibility concerns. Many community members have labeled the move misleading and harmful to TON’s reputation. Some argue it damages trust in crypto-residency efforts.
UAE’s Web3 Push Faces New Scrutiny
The UAE has positioned itself as a crypto innovation hub. It recently launched a Machine Economy Free Zone, backed by peaq blockchain, aiming to tokenize AI and robotics revenues. Additionally, Dubai rolled out the region’s first regulated tokenized real estate project, signaling its ambition to lead in DeFi and Web3.
Hence, TON’s unverified offer appears out of sync with the Emirates’ usual regulatory precision. This has led observers to call for clear guidance from UAE authorities. Transparent communication from official channels is vital for protecting investors and maintaining trust in the ecosystem.
Final Thoughts
Strict control is required when high-stakes investments, such as Golden Visas, are linked to erratic cryptocurrency assets. Such plans, in the absence of government support, may cause misunderstandings and unexpected outcomes. Before investing money, investors should use caution, check their sources, and wait for official authorization.
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