“This is a groundbreaking opportunity for toncoin holders,” said Max Crown, CEO of TON Foundation, on X, commenting on the launch of the program to obtain a 10-year UAE Golden Visa by staking $100,000 in TON for three years and paying a $35,000 fee. He emphasized: “It’s a fast and affordable path to UAE residency without the need to purchase real estate or prove income.”

However, the crypto community reacted ambiguously. CoinGecko co-founder Bobby Ong called the initiative an “amazing story” but hoped it was not a temporary scheme. Meanwhile, Joe HedgedHog of Sigil Fund noted: “This is not an official UAE government program. A private legal firm is using TON as a tool to submit applications.”

Skepticism was echoed by CZ, former CEO of Binance: “Official confirmation from UAE authorities is important. Until then, caution is needed.” He pointed out that the $35,000 goes not to the government but to a legal firm, and staking TON is not recognized as a visa basis.

The UAE authorities concluded the debate. WAM reported: “Claims about issuing golden visas for cryptocurrency are false. Visas are issued only under approved criteria, and cryptocurrency is not among them.”