Unraveling the Myths: Toncoin and UAE Golden Visa Controversy
The world of cryptocurrency is ever-evolving, with new claims and developments surfacing regularly. Recently, the TON Foundation made headlines with its assertion that staking $100K in Toncoin ($TON) for three years, accompanied by a one-time $35K processing fee, could secure holders a 10-year UAE Golden Visa. However, this claim was swiftly challenged by Binance’s CEO Changpeng Zhao (CZ), who cast doubt on its legitimacy due to a lack of official government confirmation.
Within a day, UAE regulators issued a joint statement, categorically denying the existence of any such program. They clarified that the issuance of Golden Visas is not contingent on cryptocurrency holdings. The recent attention on the visa program was largely due to the inclusion of new eligible professions, such as content creators and digital influencers, announced in May this year.
Toncoin’s Market Reaction to the False Claims
The initial announcement by the TON Foundation saw a surge in $TON’s value, as investors reacted positively, resulting in a spike of approximately 12%. However, following the corrections made by CZ and UAE regulators, the cryptocurrency experienced a decline of about 7.5%. The Federal Authority for Identity and Citizenship, along with the Securities and Commodities Authority (SCA) and the Virtual Assets Regulatory Authority (VARA), reiterated that Golden Visas remain available through traditional means, such as real estate investments and entrepreneurship.
VARA specifically pointed out that TON is neither licensed nor regulated in Dubai, urging investors to engage only with registered platforms. CZ’s cautious approach of ‘trust but verify’ proved to be prudent, as no official partnerships or documents validated the controversial claim. Despite this incident, the UAE continues to support the growth of cryptocurrency, as evidenced by its recent strides towards tokenizing real-world assets.
SUBBD Token: Revolutionizing the Creator Economy with AI and Blockchain
The SUBBD ecosystem is at the forefront of transforming social media interactions into ownable, tradeable, and rewarding experiences. By leveraging blockchain technology and AI, SUBBD empowers creators to engage their fans through exclusive digital access and content. Unlike projects driven by hype, SUBBD focuses on utility, offering token holders the ability to stake $SUBBD for VIP benefits, participate in governance, and access premium experiences.
Creators on the platform can enhance their productivity with AI-driven tools such as automated profile creation, voice notes, video editing, and livestream capabilities. An AI Influencer Creation tool is also in development. For influencers, SUBBD provides a comprehensive suite of benefits, including an AI assistant to streamline content management and fan engagement, alongside improved revenue potential by eliminating third-party commissions.
Future Prospects and Potential Gains with $SUBBD
SUBBD has already made significant strides, attracting over 2,000 top-earning creators, engaging with more than 250 million fans, and raising over $755,000 during its presale phase. With the token set to list on exchanges in 2025, the project is poised for substantial growth, drawing parallels to Dubai’s advancement in real estate tokenization. SUBBD is poised to bring transparency, structure, and scalability to the media and entertainment industry, all while adhering to regulatory standards.
Disclaimer: This content does not constitute financial advice. When investing in cryptocurrencies, it is essential to conduct thorough research and only invest funds that you can afford to lose.
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