After a wave of criticism over claims of an categorical UAE Golden Visa supply, the TON Foundation has set the file straight. In a terse assertion, the group denied authorities involvement within the undertaking that provided candidates a 10-year Golden Visa for staking $100K price of TON for 3 years.
TON Foundation Clarifies Status Of Golden Visa Project
According to a blog post, the TON Foundation has waded in to rectify the swirling narratives of its UAE Golden Visa initiative. The Foundation notes that the undertaking is an impartial collaboration between TON and an unnamed licensed companion dabbling in tokenized belongings and blockchain infrastructure.
The TON Foundation confirmed that the undertaking doesn’t have any formal authorities backing, however it’s an “exploratory effort.” The group confirmed that the announcement was untimely and has since taken down the preliminary put up providing the visa initiative.
Over the weekend, experiences of TON Foundation providing candidates a 10-year Golden Visa circulated on X (previously Twitter). An official weblog put up from the Foundation claimed to ensure the visa for candidates in the event that they staked $100,000 price of TON tokens for 3 years. Binance founder Changpeng Zhao questioned the TON Foundation’s claims over the absence of an official disclosure.
“To clarify, no official Golden Visa program has launched in partnership with the government of the United Arab Emirates, nor has any governmental endorsement been granted to TON,” learn the announcement.
Early within the day, three key UAE regulators launched a joint assertion denying any involvement within the staking-TON-for-visa scheme. The trio of the Federal Authority for Identity, Citizenship, Customs, and Port Security (ICP), the Securities and Commodities Authority (SCA), and the Virtual Assets Regulatory Authority (VARA) confirmed that eligibility for the Golden Visa doesn’t embrace digital asset traders.
Following the disclaimers, TON price tanked by double-digit percentages as traders’ sentiments turned bearish. The TON ecosystem has beforehand grappled with faux experiences gaining vital traction and subsequent clarifications triggering a large decline.
Back in May, Telegram CEO Pavel Durov introduced a Telegram-xAI partnership, however Elon Musk denied the signing of any deal. TON value tumbled by over 10% following Elon Musk’s denial of a partnership with Telegram.
Aliyu Pokima
Aliyu Pokima is a seasoned cryptocurrency and rising applied sciences journalist with a knack for overlaying needle-moving tales within the house. Aliyu delivers breaking information tales, regulatory updates, and insightful evaluation with depth and precision. When he is not poring over charts or following leads, Aliyu enjoys taking part in the bass guitar, lifting weights and working marathons.
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