Oh, the grand stage of the crypto world never ceases to amuse! Our dear former Binance CEO, Changpeng “CZ” Zhao, has once again taken to the spotlight, this time to question the legitimacy of The Open Network’s (TON) latest act: a pathway to UAE residency. It seems the UAE government sources are as silent as the grave on this matter.
As the CryptoMoon reported, TON announced on Saturday that one could secure a 10-year UAE Golden Visa by staking at least $100,000 worth of Toncoin (TON) for three years and paying a modest $35,000 processing fee. A mere seven weeks, and voilà, residency in the land of the sun and sand!
“Is this real?” CZ quipped on X, with a mix of curiosity and skepticism. “It would be a marvel IF it is true. But alas, the information I have is as conflicting as a clown at a funeral.”
“There are no official government websites with the ‘stake Ton for golden visa’ update,” CZ added, his words dripping with sarcasm. “One wonders which government entity, if any, has blessed this grand scheme.”
CZ, no stranger to the UAE’s residency requirements, having received a Golden Visa himself, found the announcement rather peculiar.
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Nevertheless, the announcement was enough to send TON’s price soaring, with the token rallying more than 11% within a few hours, according to CoinMarketCap. One can only imagine the excitement in the crypto community!
CryptoMoon, ever the diligent reporter, could not independently verify the news, as the announcement did not appear on the websites of the Ras Al Khaimah Emirate DAO, Securities and Commodities Authority, Virtual Asset Regulatory Authority, or Abu Dhabi Global Market Authority as of Sunday afternoon.
UAE: The Shining Star of Crypto and Blockchain
The UAE has indeed become a beacon for cryptocurrency adoption and blockchain-based companies, thanks to its favorable regulatory environment, government support, and infrastructure that welcomes DeFi and Web3 projects. This was evident at the recent Token2049 conference in Dubai, which CZ attended with much fanfare.
As CryptoMoon recently reported, the UAE has launched a Machine Economy Free Zone to explore the intersection of robotics, AI, and decentralization. This new sandbox, developed in partnership with layer-1 blockchain peaq, aims to reward tokenholders with a share of the revenues generated by machine economy activities. The initiative also seeks to create real-world use cases for decentralized physical infrastructure (DePIN) networks.
The UAE has also positioned itself as a key player in tokenized real estate, with Dubai launching the first licensed tokenized real estate project in the Middle East and North Africa. This collaboration between the Central Bank of the UAE, the Dubai Futures Foundation, and the Dubai Land Department is a testament to the country’s forward-thinking approach.
In May, a $3 billion real estate blockchain deal contributed to a surge in Dubai property sales, further cementing the UAE’s status as a crypto haven.
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2025-07-06 22:40