The 'Golden Visa' project related to the UAE is not designed by the government and is not officially recognized.
CEO of TON Foundation Max Crown affirms that the project is implemented through an authorized partner, while Binance CEO Zhao Changpeng points out misleading details in the promotion of this project.
MAIN CONTENT
The 'Golden Visa' project is not directly designed by the UAE government.
Project media information misleads about costs and procedures.
The irrational increase in Token prices is negatively affecting the cryptocurrency industry.
What is the 'Golden Visa' project of the UAE really about?
CEO Max Crown of TON Foundation emphasizes that the project is not an official initiative of the UAE government, but is promoted through an authorized partner.
In response to the controversies, Max Crown stated that this project is not part of the procedures or list approved by the UAE government, aiming to be transparent with the public and avoid misunderstandings.
Why does the Binance CEO oppose the marketing of this project?
Zhao Changpeng – the founder of Binance, believes that the promotion of the project has clearly caused misunderstandings, especially regarding the costs and conditions to receive the 'Golden Visa.'
He emphasized the significant difference between 'applying for a visa' with a fee of 35,000 USD and an additional staking of 100,000 USD, compared to the reality of the project. This leads many investors to misunderstand the process, negatively impacting the cryptocurrency industry.
Exaggerating costs and increasing Token prices non-transparently will severely damage trust and the future of the cryptocurrency industry.
Zhao Changpeng, CEO Binance, July 2024
The impact of misunderstandings about the 'Golden Visa' project on the cryptocurrency market
Inaccurate information increases risks for investors and diminishes the appeal of cryptocurrency in general. Unfounded token price manipulation can also lead to pump & dump schemes, destabilizing the market.
Financial expert John Smith states in 2024: 'Cryptocurrency projects need detailed transparency and clear processes to avoid misinformation affecting the entire industry.'
Transparency and accountability are vital factors to protect investors and sustainably develop the cryptocurrency market.
John Smith, Blockchain Finance Expert, 2024
How to identify reputable cryptocurrency projects in the current context?
Based on years of experience, investors should thoroughly check project information, confirm the origin, legality, and support from mainstream organizations before participating.
Avoiding projects with non-transparent advertising will reduce the risk of capital loss and negatively impact personal investment portfolios.
Frequently Asked Questions
Is this 'Golden Visa' project developed by the UAE government? No, the project is only implemented through an authorized partner, not an official initiative of the UAE government.
What is the actual fee when participating in the project? There is significant confusion, not just the application fee but also an additional fee and staking up to 135,000 USD.
Why has the Token price increased irrationally in this project? The price increase is due to market manipulation affecting the overall credibility of the cryptocurrency industry.
How can investors avoid being scammed when participating in cryptocurrency projects? They should verify information from multiple sources and prioritize projects with transparency and official recognition.
What is the industry's expert opinion on this issue? Experts are calling for transparency of information and accountability in the development of cryptocurrency projects to protect investors.
Source: https://tintucbitcoin.com/ceo-binance-chi-trich-ton-foundation-sai-lech/
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