TON Provides Golden Visa for $100,000 Investment, CZ Says "Too Good to Be True"

Open Network (TON), a blockchain platform supported by Telegram, recently announced a unique offer promising to grant a UAE Gold Visa for 10 years to those who invest at least $100,000 worth of Toncoin (TON) within three years. Moreover, TON also announced that the visa issuance process can be completed in less than seven weeks, with the entire process managed by partners based in the UAE. The offer includes additional benefits such as an estimated annual return of 3 to 4 percent on staked TON and visa insurance for immediate family members. $100K Stake, $35K Fee—But Where's the Proof? According to circulating reports, applicants will deposit TON for three years and pay a large fee to obtain a UAE long-term visa. However, CZ points out that the Golden Visa through agents typically costs around 1,000 dollars, making this offer unusually expensive. He also emphasized that staking activities are regulated in the UAE and may require approval from local authorities such as VARA and ADGM; however, there have been no public statements from any official agencies.

CZ Calls It "Too Good To Be True"

Binance founder Changpeng Zhao (CZ) has expressed skepticism about this proposal and questioned its legality. He stated that the lack of confirmation from UAE government sources makes this deal "too good to be true". While some users noted that Telegram founder Pavel Durov had reposted the offer, CZ remained cautious, stating that he prefers to trust but must verify. Despite his skepticism, CZ remains open to this idea. If the claim of TON staking-for-visa is true, he stated that he would explore a similar opportunity using Binance Coin (BNB). Binance has deep roots in the UAE, with CZ holding UAE citizenship and the exchange receiving regulatory approval in both Dubai and Abu Dhabi. The Regulatory Authorities of the UAE Reject Visa Applications Based on Cryptocurrency However, the regulatory authorities of the UAE in a joint statement denied the provision of Golden Visas for cryptocurrency investors, clarifying that such visas are only limited to approved categories such as real estate investors, scientists, and top graduates. They urge the public to avoid unverified offers regarding UAE cryptocurrency visa applications and only transact with licensed cryptocurrency organizations, stating that there is no official support for TON's program. TON Price Increases Strongly As speculation rises, the TON token is witnessing a surge. It skyrocketed 6% to $2.90, briefly hitting $3.05 before stabilizing. Trading volume has surged to $643 million in 24 hours, corresponding to a 607% increase. With the cryptocurrency market experiencing a general boost from the rally over the weekend, an official confirmation from the UAE could push TON even higher.