đ What Happened in Brief?
The crypto world was shaken over the weekend by the news of the UAE Golden Visa, which was spread and later denied, regarding Telegram's blockchain project $TON (The Open Network).
The claims that hit the agenda like a bomb on Sunday morning claimed that those who staked the #TON token would be able to obtain a residence permit in the United Arab Emirates. After this news, the TON price increased by over 10%, while investors' interest peaked. However, less than 24 hours later, the news turned out to be untrue.
TON Foundation CEO Max Crown apologized in a statement on social media, stating that they were only doing "research"; while Binance founder CZ openly criticized this situation and gave a harsh response:
"This would mislead the market. These details should have been shared from the very beginning."
𧩠Chronology of the Event
đ Phase 1: Sunday Morning Breaking News
Initial news in the crypto media suggested that those who staked the TON token would be able to get a Golden Visa in the UAE.
The terms included a $100,000 TON stake and a $35,000 fee.
This news spread quickly, with many users and influencers sharing these tweets.
The TON price skyrocketed.
đ Phase 2: Reverse Gear at Night
TON Foundation CEO Max Crown made a statement following the reactions:
âWe were conducting researchâ
âThe #UAE government had nothing to do with thisâ
âWe apologize for the confusionâ
âWe were investigating the future of tokenized assetsâ
đŹ Phase 3: CZâs Strong Exit
Binance founder and former CEO Changpeng Zhao (CZ) gave a clear reaction to the situation:
âThese details should have been given from the very beginning. The perception that a visa will be obtained with a $100,000 stake, combined with speculative price action, will harm the market.â
đ Market Impact and Reactions
TON token price rose with the news, but largely returned its gains after the denials.
Investors reacted heavily on social media, especially the allegations of manipulation were brought to the agenda.
Telegram founder Pavel Durovâs retweet of the tweets strengthened the perception of the newsâ accuracy, but this was later deemed âmisleading.â
The UAE authorities made an official statement, announcing that a residence permit cannot be obtained with crypto.
â ïž What Does It Mean for the Industry?
This incident has brought several important questions to the agenda in the crypto sector:
đ§ 1. Responsibility of Project Teams
It has been proven once again how manipulative statements made under the name of âresearchâ affect investors.
đŹ 2. Transparency and Regulation
It was emphasized that crypto projects should be much more transparent and clear, especially in statements that have a public impact.
đ 3. Reaction of Regulatory Institutions
Such incidents undermine the trust of regulatory institutions in the sector and pave the way for stricter controls.
𧟠What Happened on the TON Price Chart?
Time Period Price (USD) Percentage Change
Pre-News 2.75 â
Post-News 3.05 +10.9%
Post-Denial 2.78 -8.8%
đ Conclusion: Is Trust in the Market Being Damaged?
This incident has shown once again that in the crypto world, information pollution and statements made with âhalf-truthsâ can cause major price movements.
While the TON team suffered a loss of reputation in this process, the reactions of leading names in the sector such as CZ drew attention to the importance of investor awareness.
đ Final Word
As the crypto sector grows, it needs more professional, transparent and responsible statements.
This initiative, presented by the TON Foundation as a âwell-intentioned researchâ, was evaluated by many as manipulation.
Investors now have to question not only the âpriceâ but also the accuracy of the information.
