TON’s UAE Golden Visa Offering Spurs Price Spike—and Sparks Questions Over Legitimacy

The TON Foundation recently unveiled a program aiming to help crypto investors gain long-term residency in the United Arab Emirates, but while the move has energized some, it’s also raising red flags among crypto industry observers.

On July 6, Max Crown, CEO of the TON Foundation, announced on X (formerly Twitter) what he described as a “groundbreaking initiative” that allows Toncoin (TON) holders to apply for a 10-year UAE Golden Visa.

To qualify, applicants must stake $100,000 worth of Toncoin for three years and pay a $35,000 one-time processing fee. After the three-year lockup, investors can reclaim their staked funds and potentially earn a 3–4% annual yield during the staking period.

According to details on the TON Foundation’s website, the program offers benefits like quick processing—within seven weeks—fewer bureaucratic requirements than traditional residency pathways, and the option to include family members such as spouses, children, and parents at no additional cost aside from government fees. The staking process occurs via decentralized smart contracts on the TON blockchain, which the Foundation says ensures security and transparency.

The TON initiative is being pitched as a cheaper and faster alternative to standard UAE Golden Visa routes, which typically require at least $540,000 in real estate or fixed deposits and can be more time-consuming. The Foundation suggests its offering aligns with the UAE’s broader goals of becoming a global center for crypto and Web3 development.

Toncoin Price Rally

The announcement had an immediate market impact, driving Toncoin’s price up by 12% to a peak around $3.06 before it settled at roughly $2.8944, up 5.36% over the past day. Trading activity also surged, with 24-hour volumes about 251.54% above the 30-day average, based on CoinDesk Research’s technical data.

Mixed Reactions from the Crypto Community

Despite the price rally, reactions have been sharply divided.

Bobby Ong, co-founder and COO of CoinGecko, described the announcement as an “amazing story,” speculating it could attract significant investor interest and drive up demand for Toncoin. Still, he expressed hope it’s not simply a fleeting scheme.

However, Joe HedgedHog (@JoeHedgedHog), an investment partner at Sigil Fund, clarified that the initiative is not an official UAE government partnership. Instead, he described it as a private service run by a legal firm that uses TON staking as a method to help facilitate applications for entrepreneur visas. He noted that, technically, any cryptocurrency could be used in the same way, and characterized the staking as a “token utility sink” rather than a government-driven requirement.

ivangbi (@ivangbi_), Head of Strategy & Business Development at Gearbox Protocol, also raised concerns, calling the announcement misleading. He explained that the $35,000 fee is paid to a legal firm, which then submits the visa application to UAE authorities for consideration. He emphasized that the UAE government ultimately decides on approvals, and the TON staking balance may be just one among several factors—and perhaps not mandatory under revised visa rules. He warned that the absence of direct government endorsement leaves the program’s results uncertain, suggesting it might serve more as marketing than a guaranteed path to residency.

Even Changpeng Zhao (CZ), co-founder and former CEO of Binance, voiced caution. He pointed out that the $35,000 fee seems destined for a private intermediary rather than the UAE government itself. CZ flagged concerns that TON’s website language could imply a visa is guaranteed simply by staking Toncoin, which is not officially the case.

CZ also highlighted that staking is a regulated financial service in the UAE, and the TON Foundation might not hold the required licenses to run this kind of program legally. Furthermore, official UAE government sources do not list Toncoin staking as an eligible route for Golden Visas, focusing instead on traditional visa categories.

In a follow-up, CZ urged the crypto community to “trust but verify,” underscoring that while the idea has potential, firm government confirmation is essential. As of now, no UAE government agency has officially backed or endorsed TON’s initiative.

UAE Entrepreneur Visa Background

The entrepreneur visa option in the UAE, which appears to be the legal route TON is leveraging, is designed for individuals overseeing innovative business ventures. Applicants must show proof from an accredited UAE auditor that their business is valued at least 500,000 AED, secure local authority endorsements attesting to the project’s innovative character, and receive support from a recognized UAE business incubator.

Toncoin Technical Analysis Overview

• Price Movement: TON rose from $2.75 to $3.06, marking a 12.4% increase.
• Initial Surge: The rally kicked off around 7:00 on July 6, with trading volume climbing to nearly 13 million tokens.
• Major Spike: A dramatic volume spike of 57.5 million tokens occurred at 8:00, sending TON to its peak.
• Support Levels: Strong buyer interest has formed between $2.86 and $2.89.
• Resistance Levels: Selling pressure appears near $3.03, suggesting a potential new trading range.
• Short-Term Rise: TON rose 2.4% between 15:12 and 16:11 on July 6.
• Breakout Movement: A sharp rally took place at 15:48 when volume spiked to 1.68 million tokens. TON briefly reached $2.93 at 15:50 before consolidating near the $2.90–$2.91 range.

As debates continue, TON’s bold Golden Visa proposal remains both an innovative step for crypto-financed residency solutions—and a source of intense scrutiny until clear government confirmation arrives.