CZ Questions TON’s UAE Golden Visa as Official Sources Stay Silent
Summary
Changpeng “CZ” Zhao, former CEO of Binance, expressed skepticism about The Open Network's announcement regarding a new pathway to UAE residency through staking Toncoin. The program offers 10-year UAE Golden Visas for those staking at least $100,000 in Toncoin and paying a $35,000 fee, with processing in under seven weeks. CZ noted the absence of official government confirmation and questioned the program's legitimacy. Despite his doubts, the announcement led to an 11% increase in Toncoin's price. The UAE is recognized as a growing hub for cryptocurrency and blockchain, supported by favorable regulations and initiatives like the Machine Economy Free Zone and tokenized real estate projects.
