TON publications does not seem accidental. 2 scandals within 2M is suspicious.

The cryptocurrency community was thrown into turmoil over the weekend following widespread—but ultimately false—claims suggesting that staking $TON , the native token of The Open Network (TON), could grant investors a UAE Golden Visa. The misleading information triggered a rapid price surge for #TON , followed by an equally swift reversal after the claims were officially denied.

📌 Summary of Events

Initial reports circulating on Sunday morning alleged that investors who staked $100,000 worth of TON and paid a $35,000 fee would become eligible for UAE residency through the Golden Visa program. The news quickly gained traction across social media and crypto news platforms, driving heightened investor interest and causing TON’s price to spike by over 10%.

However, within 24 hours, the TON Foundation publicly refuted the claims. CEO Max Crown issued a formal apology, clarifying that the information stemmed from internal research rather than an official program. He also emphasized that no such arrangement existed with the UAE government.

In response, Binance founder Changpeng Zhao (CZ) issued a strong critique, warning that such ambiguous or speculative announcements risk misleading the market.

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🧩 Timeline of Events

Phase 1: Breaking News and Hype

Early Sunday: Reports claim that staking $100,000 in TON grants access to a UAE Golden Visa, triggering widespread social media engagement.

Influencers and media outlets amplified the news.

TON price surged from $2.75 to $3.05, a 10.9% increase.

Phase 2: Retraction and Apology

Later that evening, TON Foundation CEO Max Crown issued a statement:

“We were conducting research into future applications of tokenized assets.”

“The UAE government is not involved in this initiative.”

“We apologize for the confusion.”

Phase 3: CZ’s Criticism

CZ responded publicly:

“These details should have been disclosed from the start.”

“The implication that a visa could be obtained via token staking, combined with speculative price movements, is damaging to the market.”

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📉 Market Impact and Community Reactions

Following the retraction, TON’s price retraced nearly all of its gains, falling back to $2.78, down 8.8% from its post-rumor peak. The incident ignited criticism across crypto forums and X (formerly Twitter), with many accusing the TON team of market manipulation.

Adding fuel to the fire was Telegram founder Pavel Durov, who had retweeted early reports, unintentionally lending credibility to the misleading claims. The UAE government has since issued a formal denial, stating that residency cannot be obtained through cryptocurrency holdings or staking.

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⚠️ Implications for the Industry

This episode has brought several critical issues to the forefront for the cryptocurrency sector:

1. Project Accountability
Unverified announcements—even when labeled as “research”—can mislead investors and manipulate market sentiment.

2. Need for Greater Transparency
Crypto projects must prioritize clarity and transparency, particularly when releasing information with potential public or financial impact.

3. Regulatory Concerns
Incidents like this may reinforce skepticism among regulatory bodies and contribute to calls for stricter oversight in the digital asset space.

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📊 TON Price Movement Summary

Time Period Price (USD) % Change

Pre-News $2.75 —
Post-News $3.05 +10.9%
Post-Denial $2.78 -8.8%

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📌 Conclusion: A Cautionary Tale for the Crypto Sector

The TON controversy serves as a stark reminder of how rapidly misinformation can impact token valuations and investor sentiment. While the TON Foundation described its actions as part of a broader “research initiative,” critics—led by CZ—argue that the lack of clarity resulted in unnecessary market volatility and reputational damage.

As the cryptocurrency industry matures, stakeholders are increasingly calling for greater professionalism, accountability, and regulatory awareness. This event underscores the growing importance of verifying information and understanding that in crypto, perception can move markets—often faster than facts.

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