Zhao Changpeng criticizes TON Foundation for marketing misinformation, reigniting trust crisis in the crypto industry.
On July 8, the cryptocurrency sector was once again stirred by a controversy over a 'golden visa' project. PANews reports that Max Crown, CEO of the TON Foundation, made a clarification regarding the controversy caused by the UAE 'golden visa' project, clearly stating that the project was not directly designed by the UAE government, but was promoted through an authorized partner, and has not yet received official government approval.
This clarification did not quell industry skepticism, as Binance founder Zhao Changpeng was the first to publicly criticize the project's marketing methods for being obviously misleading. He pointed out the core issue on social media: the project party blurred key information in their promotion, deliberately downplaying the gap between 'a deposit of $35,000 + $100,000 can obtain a golden visa' and the reality that one can only 'submit an application.' This practice seriously violates the principle of transparency in the industry.
'A slight difference in wording can lead to a world of difference.' Zhao Changpeng emphasized that ordinary investors often find it difficult to discern the risks behind marketing rhetoric, and project parties have the responsibility to clearly and accurately inform the public of key details, rather than exploiting information asymmetry for exaggerated promotion. He further pointed out that such behavior not only puts participating users at risk of financial loss but also causes lasting harm to the credibility of the entire crypto industry.
It is worth noting that with the controversy surrounding this project, the prices of related tokens have shown abnormal fluctuations, and the market suspects signs of malicious manipulation. Zhao Changpeng has explicitly opposed this, believing that such short-term market manipulation is 'drinking poison to quench thirst' and will ultimately undermine the healthy development of the industry ecosystem.
Industry insiders analyze that this controversy exposes the long-standing marketing chaos in the crypto industry: some project parties overly package concepts such as 'immigration convenience' and 'government cooperation' to attract traffic, creating an investment frenzy by exploiting users' desire for policy dividends. Ordinary investors, lacking professional discernment skills, are easily misled by exaggerated promotions, ultimately becoming victims of market volatility.
As the founder of the world's largest cryptocurrency exchange, Zhao Changpeng's criticism has resonated widely in the industry. Several practitioners expressed that the crypto industry is at a critical stage of striving for mainstream recognition; any misleading marketing is a depletion of the trust foundation in the industry. Only by adhering to a transparent and compliant development path can sustainable development be achieved.
Currently, the TON Foundation has not responded to Zhao Changpeng's criticism, and relevant departments in the UAE have not issued an official statement regarding the nature and legality of the 'golden visa' project. The market is closely monitoring the subsequent developments of the event, hoping that all parties can maintain industry order with a more responsible attitude.
