TON Price Surges 11% After UAE Golden Visa Announcement Despite Lack of Official Endorsement

Changpeng Zhao, the former CEO of Binance, has expressed doubts about The Open Network’s (TON) recent announcement that staking $100,000 worth of Toncoin for three years could secure a 10-year UAE Golden Visa. Zhao emphasized the lack of official confirmation from any UAE government entity, highlighting the need for careful verification before investing in such programs. This skepticism is particularly significant given Zhao’s personal experience with UAE residency requirements, lending weight to his cautionary stance. His comments serve as a reminder for investors and crypto enthusiasts to approach such offers critically and seek transparent, verifiable information before committing substantial funds.

The announcement triggered a swift market response, with TON’s price rising over 11% within hours, reflecting investor optimism or speculative interest. However, this price movement contrasts with the lack of official endorsement from key UAE regulatory bodies. While Telegram CEO Pavel Durov publicly supported the news by sharing it on social media, Zhao’s insistence on “trust but verify” highlights the broader community’s divided stance. This dynamic illustrates the challenges in the crypto space where announcements can influence market behavior even before official validation, underscoring the importance of due diligence and regulatory clarity.

The United Arab Emirates has rapidly established itself as a global leader in cryptocurrency adoption and blockchain innovation, driven by a progressive regulatory framework and proactive government initiatives. The country’s commitment to fostering a robust ecosystem for decentralized finance (DeFi) and Web3 technologies was prominently showcased at the recent Token2049 conference in Dubai, which attracted industry leaders including Zhao. Notably, the UAE’s launch of the Machine Economy Free Zone, in collaboration with layer-1 blockchain peaq, exemplifies its forward-thinking approach by integrating robotics, AI, and decentralization to create new economic models. This initiative aims to incentivize tokenholders with revenue shares from machine economy activities, advancing practical applications of decentralized physical infrastructure networks (DePIN).

Beyond DeFi and AI integration, the UAE is pioneering tokenized real estate projects, positioning itself at the forefront of blockchain-enabled asset digitization. Dubai’s first licensed tokenized real estate initiative, a joint effort involving the Central Bank of the UAE, Dubai Futures Foundation, and Dubai Land Department, marks a significant milestone in the Middle East and North Africa region. This project not only facilitates fractional ownership but also enhances liquidity and transparency in real estate markets. The momentum was further bolstered by a $3 billion blockchain real estate deal in May, which contributed to a surge in property sales, reflecting growing investor confidence in blockchain’s transformative potential for traditional asset classes.

While The Open Network’s UAE Golden Visa offer has generated excitement and a notable market reaction, Changpeng Zhao’s prudent skepticism underscores the necessity for official confirmation and regulatory transparency. The UAE’s broader crypto ecosystem continues to thrive, driven by innovative projects and supportive policies that position the country as a global blockchain hub. Investors and stakeholders should remain vigilant, prioritizing verified information and regulatory compliance as the landscape evolves. This approach will ensure sustainable growth and confidence in emerging crypto-related opportunities within the UAE and beyond.