Sign Up on MEXC
Highlights
- CZ is poking holes in the claims of a 10-year UAE Golden Visa from staking $100K in TON.
- The Binance founder is hinging his doubt on the absence of an official government update.
- He adds that if it is real, he will pursue a BNB staking option for visa seekers.
Reports of staking TON Token for the UAE Golden Visa offer have gained steam, but CZ is proceeding with cautious optimism. The Binance founder notes that the claim may be “too good to be true,” while scanning the horizon for an official government announcement to back up the claims.
CZ Raises Eyebrows Over UAE Golden Visa Offer
According to a blog post, the Ton Foundation is offering a 10-year Golden Visa to the United Arab Emirates (UAE) through the staking of $100,000 worth of Toncoin. Applicants seeking the 10-year visa have to stake $100K worth of TON tokens for three years and pay a one-time $35,000 processing fee.
However, Binance founder Changpeng Zhao has expressed a measure of doubt about the veracity of the claims. Right off the bat, CZ says he is receiving conflicting information about the claims by the Ton Foundation.
On one hand, CZ’s sources say Golden Visa applications through agents typically cost around $1,000. The Binance founder is raising eyebrows at the steep $35,000 processing fee and the claims of a guaranteed visa from staking TON tokens.
Secondly, CZ is pointing to a glaring absence of a government-backed press release to support the Ton Foundation’s claims. Sources say staking is a regulated activity requiring the Ton Foundation to obtain licenses from local regulators like VARA, SCA, and the ADGM. Global regulators are tightening the screws for crypto staking with the US SEC delaying Bitwise’s Ethereum ETF staking application.
“There are no official government websites with the stake TON for the golden visa update,” said CZ. “This program would be awesome if it were true.”
CZ Targets BNB Involvement As TON Token Soars
CZ says that he will pursue a BNB staking solution if the reports of staking TON in exchange for a UAE Golden Visa are true. The Binance Coin ecosystem is a beehive of activity, with Nano Labs creating a BNB Treasury amid soaring DEX metrics.
CZ has extensive links to the UAE, holding citizenship and famously moving to Dubai back in 2021. Binance has gone on to obtain regulatory approval from Dubai’s VARA and another approval in Abu Dhabi’s ADGM.
The Ton token is up 6% over the last day, trading at $2.90 in a frenetic rally. According to CoinMarketCap data, the crypto surged as high as $3.05 before undergoing a mild pullback, leaving the market capitalization at $7.17 billion.
At the moment, Ton’s daily volume is at a record high of $643.4 million, a 607% jump over the last day. The rest of the crypto market is rallying on the back of a sudden Sunday pump, with top assets in the green. An official government announcement at the start of the week can send the Ton token price surging to new highs.
- XRP and Solana Eye Breakout Amid Institutions Buying, Call Options
- Pi Network Mod Flags Scammer Wallet Linked to Multiple Token Thefts
- Crypto Market Turns Bullish as Standard Chartered Predicts 50bps Fed Rate Cut Next Week
- US SEC Delays Canary HBAR and Grayscale Polkadot ETF, Here’s Why
- Trump Family’s Crypto Wealth Soars $1.3B via WLFI, Eyes Real Estate Tokenization
- Dogecoin Price Forecast: Analyst Targets $2 as DOGE Leads Altcoin Market Amid ETF Optimism
- HBAR Price Forecast: Analyst Targets 123% Rally as ETF Approval Odds Hit 90%
- Solana Price Prediction: Will Solana Hit $320 as SOL Strategies Gains Nasdaq Approval?
- XRP Price Forecast: Analyst Eyes $127 as BlackRock Joins Ripple Swell 2025
- Chainlink Price Eyes $55 as Reserve Holdings Jump With 43,937 LINK Addition
