Toncoin (TON) plummets after UAE’s golden visa claim for staking is debunked, here are the facts!

Updated

July 8, 2025

Gambar Toncoin (TON) plummets after UAE’s golden visa claim for staking is debunked, here are the facts!

Jakarta, Pintu News – The price of Toncoin cryptocurrency fell sharply by 5% to $2.79 (around Rp45,316; 1 USD = Rp16,241) in the last 24 hours after the United Arab Emirates (UAE) government officially denied claims that TON staking could be used to obtain the country’s “Golden Visa”. The claim was initially spread by the CEO of the TON Foundation, Max Crown, through a tweet that said staking worth $100,000 (Rp1.62 billion) for three years plus an administration fee of $35,000 (Rp568 million) could make it easier for users to get the prestigious UAE visa.

The news was later reinforced by Telegram founder Pavel Durov’s re-distribution to his 2.6 million followers. In effect, the TON price spiked to $3 (IDR 48,723) after the announcement-the highest level since June 20-before plummeting when UAE regulators issued an official clarification.

UAE Government Clarification: TON Not Recognized for Golden Visa

🚀 Big News! 🚀

Toncoin has just launched a groundbreaking initiative, offering TON holders the exclusive chance to secure a 10-year Golden Visa! 🇦🇪✨

🔹 Stake $100K in $TON for 3 years
🔹 Pay a one-time fee of $35K
🔓 Unlock funds after 3 years

This isn't just about visas,…
— Max Crown (@crownmax) July 6, 2025

On Monday, the UAE’s Federal Authority for Identity, Citizenship, Customs and Port Security, along with the Securities and Commodities Authority and the Virtual Assets Regulatory Authority (VARA), released a joint statement confirming that they refute all media and social reports that crypto investments such as TON can be used as a condition for applying for a Golden Visa. The government also confirmed that TON companies have no license or official recognition from VARA.

The authority also urges the public to be cautious and always refer to information from official government websites before making investment decisions related to strategic programs such as the Golden Visa. This reminder is especially relevant amidst the rampant misinformation that often circulates in the crypto world.

Also Read: US Tariff Delay Could Make Bitcoin Set a New Record This Week, What’s Really Happening?

Observer: Official Communication is Key to Public Trust

Alexandr Kerya, VP of Product Management at CEX.IO, told Decrypt that important claims like this should be made officially and transparently, not through a single social media tweet. He emphasized the importance of clarity and credibility from both governments and blockchain industry players to prevent misleading and speculation that could harm investors.

Meanwhile, Thomas Felber from trading platform Tradu highlighted that this incident is not an isolated case in the TON ecosystem. He alluded to the concentration of whales in the TON network and criticized the Notcoin game for only encouraging short-term engagement rather than deeper utilization.

UAE Golden Visa Program and Crypto Industry Reaction

I am a supporter of Durov, especially given his current situation.

But I like to "trust but verify".

I'd expect something like this to have a government partnership, and announcement.

It might still be true, just saying I haven't been able to verify.
— CZ 🔶 BNB (@cz_binance) July 6, 2025

The UAE Golden Visa itself is a program that allows holders to live and work for up to 10 years in the UAE, including in crypto hubs like Dubai. However, the normal conditions for applying for this visa are fairly heavy, such as a minimum property investment of $500,000 (IDR 8.12 billion).

In response to this polemic, crypto bigwigs such as Changpeng Zhao (former CEO of Binance) also reminded us to always “trust but verify” and wait for official announcements if there is indeed cooperation between crypto projects and the government.

Conclusion

Toncoin’s price drop due to false rumors about the UAE Golden Visa is another reminder of the importance of transparency, official communication, and caution before making investment decisions in the cryptocurrency realm. Investors are advised to always verify information and not be easily influenced by hype on social media.

Also Read: Russia Launches National Register of Crypto Mining Rigs: Cryptocurrency Miners Taxed?

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This content aims to enrich readers’ information. Pintu collects this information from various relevant sources and is not influenced by outside parties. Note that an asset’s past performance does not determine its projected future performance. Crypto trading activities are subject to high risk and volatility, always do your own research and use cold hard cash before investing. All activities of buying andselling Bitcoin and other crypto asset investments are the responsibility of the reader.