Former Binance CEO CZ questions legitimacy of UAE Golden Visa program for TONcoin

Former Binance CEO CZ questions legitimacy of UAE Golden Visa program offering 10-year visas for staking $100,000 worth of Toncoin and a $35,000 fee. CZ notes lack of official UAE government announcement for the program, raising doubts about its authenticity.

Despite CZ’s skepticism, Telegram CEO Pavel Durov has confirmed the news, leading to an 11% rally in TON’s price. However, CZ remains cautious, stating he likes to “trust but verify” before fully believing in the program.

The UAE has become a prominent crypto and blockchain hub, attracting companies with its supportive regulatory environment and infrastructure. Recent initiatives include the Machine Economy Free Zone to explore robotics and AI, as well as tokenized real estate projects launched in collaboration with key institutions.

Dubai, in particular, has seen significant growth in tokenized real estate projects, with a $3 billion deal contributing to a surge in property sales. The UAE’s commitment to blockchain technology and innovation positions it as a leading player in the global crypto landscape.

Read more at CoinTelegraph: CZ Questions TON’s UAE Golden Visa as Official Sources Stay Silent