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CZ’s BNB Visa Dreams Shattered by UAE’s Reality Check

BBG News

It was a tale that had the crypto world in a tizzy, a story so fantastical it could have been penned by Jules Verne himself. The TON Foundation, in a moment of what can only be described as unbridled optimism, announced a program that promised to turn the humble act of staking Toncoin into a golden ticket to a 10-year UAE residency. The announcement, which hit the wires on July 5, was like a siren song to the crypto community, and even the ever-savvy Binance founder, Changpeng Zhao, found himself caught in its spell.

“It would be awesome,” tweeted the UAE-based crypto mogul, adding with a twinkle in his eye, “if the offer was real, BNB Chain would consider launching something similar.”

If it is real, we will definitely try to get it on BNB too.

— CZ 🔶 BNB (@cz_binance) July 6, 2025

But alas, the dream was as fleeting as a midsummer night’s breeze. The Emirates News Agency, in a move that could have been choreographed by a master of dramatic irony, issued an official statement denying the claim. It was as if the TON Foundation had been caught red-handed, trying to pass off a counterfeit golden visa as the real McCoy. The authorities were quick to clarify that there was no government-backed visa program tied to staking Toncoin, and that TON was not authorized or regulated in Dubai for such purposes.

CZ, who had been working to verify the claims, was quick to point out the red flags. “Several things didn’t add up,” he mused, “like the lack of any official government statement or partnership.” His skepticism was well-founded, and after the UAE’s rejection, he responded with a laughing emoji, describing TON’s move as “aggressive and misleading marketing.” He urged the community to be cautious and to verify bold claims before accepting them at face value, a sentiment that was met with a chorus of nods and a few eye rolls.

Meanwhile, TON is facing a backlash that could rival the wrath of a jilted lover. Community members have been vocal in their criticism, expressing disappointment with the foundation’s announcement and warning that such a move damages the project’s credibility. Despite the criticism and the clarification from UAE authorities, TON has yet to issue an official retraction, and the webpage promoting the false initiative remains live, a testament to the foundation’s stubborn optimism or perhaps a case of “never mind the bollocks, here’s the TON Foundation.”

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2025-07-07 13:14

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