TON Foundation Confirms UAE Golden Visa Offer Is Not Official

After a wave of criticism over claims of an express UAE Golden Visa offer, the TON Foundation has set the record straight. In a terse statement, the organization denied government involvement in the project that offered applicants a 10-year Golden Visa for staking $100K worth of TON for three 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 project is an independent collaboration between TON and an unnamed licensed partner dabbling in tokenized assets and blockchain infrastructure.

The TON Foundation confirmed that the project does not have any formal government backing, but it is an “exploratory effort.” The organization confirmed that the announcement was premature and has since taken down the initial post offering the visa initiative.

Over the weekend, reports of TON Foundation offering applicants a 10-year Golden Visa circulated on X (formerly Twitter). An official blog post from the Foundation claimed to guarantee the visa for applicants if they staked $100,000 worth of TON tokens for three 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,” read the announcement.

This is a developing story.

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Aliyu Pokima

Aliyu Pokima is a seasoned cryptocurrency and emerging technologies journalist with a knack for covering needle-moving stories in the space. Aliyu delivers breaking news stories, regulatory updates, and insightful analysis with depth and precision. When he’s not poring over charts or following leads, Aliyu enjoys playing the bass guitar, lifting weights and running marathons.

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