Former Binance CEO Changpeng “CZ” Zhao has expressed skepticism regarding The Open Network’s (TON) recent announcement of a new UAE Golden Visa program linked to staking Toncoin (TON). TON revealed a scheme offering 10-year UAE residency visas to applicants who stake $100,000 worth of TON tokens for three years and pay a $35,000 processing fee, with the promise of visa approval in under seven weeks.
CZ, who personally holds a UAE Golden Visa, raised concerns on social media about the absence of any official confirmation from UAE government sources. He noted the lack of announcements on official UAE government websites and questioned which regulatory body had authorized the program. He described the offer as potentially “too good to be true” and emphasized his preference to “trust but verify” before endorsing the initiative.
Despite CZ’s doubts, the announcement triggered a sharp increase in Toncoin’s price, which surged over 10% shortly after the news broke. Some community members pointed to Telegram CEO Pavel Durov’s repost of the announcement as a form of informal confirmation, though no formal government endorsement has surfaced.
The TON Foundation’s program notably lowers the traditional UAE Golden Visa investment threshold from approximately $540,000 in illiquid assets to $100,000 in staked cryptocurrency, offering an estimated 3–4% annual yield during the staking period. The visa extends to immediate family members without extra fees beyond standard government charges, and staking is managed via decentralized smart contracts on the TON blockchain for transparency.
However, industry voices caution that the program appears to be facilitated by third-party providers rather than being an official UAE government initiative. CZ highlighted that staking activities typically require regulatory licenses from UAE authorities such as VARA, SCA, and ADGM, none of which have publicly recognized this TON-linked visa pathway.
The UAE continues to position itself as a leading hub for crypto and blockchain innovation, with initiatives spanning DeFi, Web3, tokenized real estate, and machine economy projects. The country’s regulatory environment remains attractive, but this latest visa offer underscores ongoing scrutiny and the need for clear government validation in crypto-linked residency schemes.
In summary, while TON’s UAE Golden Visa proposal has generated excitement and market movement, Changpeng Zhao’s reservations reflect broader calls within the crypto community for official confirmation and regulatory clarity before embracing such programs.
