UAE Denies Toncoin Staking Visa offer, Ending Crypto Excitement
A viral claim that staking Toncoin could secure a 10-year UAE visa has been debunked. This ended a short-lived crypto buzz.
On July 5, the TON Foundation announced a program offering 10-year UAE residency to those who stake $100,000 worth of Toncoin. The promise of high returns and zero risk quickly spread, catching the attention of Binance founder Changpeng Zhao. He expressed interest, suggesting BNB Chain might launch a similar initiative.
Though, the excitement was short-lived. The Emirates News Agency soon issued a statement denying the claim. They confirmed there is no government-backed visa program tied to staking Toncoin. Officials clarified that TON is not authorized or regulated in Dubai for such purposes.
CZ had initially worked to verify the claims but later responded with a laughing emoji, calling TON’s move “aggressive and misleading marketing.” He urged the community to be cautious and verify bold claims.
The TON Foundation faced backlash from community members who criticized the proclamation, warning it damaged the project’s credibility. Despite the UAE’s clarification, TON has not issued an official retraction, and the webpage promoting the false initiative remains live.
Key points:
- The UAE denied a claim linking Toncoin staking to a 10-year visa.
- Binance founder CZ initially showed interest but later criticized the claim.
- The TON Foundation has not retracted the false announcement.
