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Crypto is still discussing: TON manager said "We were conducting research"
The crypto world continues to discuss the news that it is possible to obtain residency in the United Arab Emirates with TON, the token of Telegram.
CEO of the TON Foundation: We apologize, we were conducting research.
New tweets also came from Max Crown, the CEO of the TON Foundation, late at night regarding the issue. In a statement made from his account, Crown apologized for the confusion they caused.
"We have seen the problems and questions raised by the TON community. First of all, we apologize for the confusion. The announcement made was actually an early-stage study conducted between TON and a licensed partner. It was a study for tokenized assets... There was no government involvement. One day, we want to explore the benefits that real-world assets can provide regarding sessions. This was our first initiative regarding the use of TON tokens. There was no direct link with the UAE government. In fact, the government has no initiative in this regard. The topic of 'Golden visa' is only subject to the laws of the UAE government."
CZ reacted: You should have shared these details.
Binance founder and former CEO Changpeng Zhao, who could not hide his astonishment from the very first moments the news broke and clearly stated that this news needed to be questioned, responded to Crown's tweets:
"My friend, this is a misdirection in the market. You should have shared these details in advance. There is a big difference between applying for a session permit with $100,000 staking and a $35,000 payment. And of course, the price increase in the token... These are harming the industry."
Many people also sent messages questioning the sharp price movements of Crown.
At the time the news broke, Telegram founder Pavel Durov had also retweeted and shared the relevant tweets. This situation had created a perception that the news was true.
The UAE authorities had stated, through a series of consecutive announcements, that such a situation does not exist and that no residency applications had been made with crypto.
Published: July 8, 2025 10:30Last Updated: July 8, 2025 10:35