Latest news with #TONFoundation
Forbes
3 days ago
- Business
- Forbes
Latest Crypto Buzz Fades As TON Admits No UAE Visa Agreement
Ton announces a Golden Visa for the UAE and then retracts it. In a dramatic turn of events, what initially looked like a groundbreaking fusion of crypto and blockchain technology and global mobility has been walked back. Earlier this week, excitement exploded online after an announcement suggested that staking $100,000 in TON for three years, plus a one-time $35,000 processing fee, would grant applicants a 10-year UAE Golden Visa. The initiative appeared to offer quick processing, family eligibility, and was even promoted through a TON Foundation webpage. TON's token surged on the news. One of the tweets from Ton about the UAE Golden Visa. But on July 7th, 2025 the TON Foundation issued a statement to clarify the situation and reset expectations. Despite the enthusiastic rollout, no formal partnership exists between TON and the United Arab Emirates government. The initiative, while real in its experimental goals, is still in development and has not been endorsed or authorized by any UAE governmental entity. Why the Correction Is a Big Deal For Ton, Crypto And The UAE The initial reaction made sense. If true, this would have been the first time a decentralized crypto staking mechanism directly enabled access to a government residency program. It signaled a future where your crypto wallet could unlock real-world benefits, an intersection of Web3 and public policy. But the correction from the TON Foundation was swift and firm. They emphasized that the program is an exploratory effort, being developed in collaboration with a licensed blockchain partner, but it does not have any government approval or involvement at this time. The UAE's Federal Authority for Identity, Citizenship, Customs and Port Security, the Securities and Commodities Authority, and the Virtual Assets Regulatory Authority released a joint statement confirming that no such initiative has been launched or approved. This wasn't just a clarification. It was a necessary course correction. And it highlighted the risks of moving too fast in regulated territory, especially when dealing with programs that involve immigration and national benefits. The Impact on the UAE and TON For Crypto The UAE's rapid response showcased its evolving role as both a crypto-forward country and a firm regulatory actor. This is a country that has welcomed crypto exchanges, startups, and tokenization initiatives. But it is also focused on transparency, structure, and legal compliance. The message from regulators was unmistakable. Innovation is encouraged, but only when it is aligned with approved frameworks. For TON, the news cycle was a mixed bag. On one hand, the initial buzz helped put TON back in headlines, demonstrating the community's appetite for real-world applications of blockchain. The idea of using smart contracts to automate a residency pathway is compelling. On the other hand, the abrupt reversal could cause reputational damage if it's seen as over-promising or sidestepping regulatory rigor. Still, TON has an opportunity here. The Foundation's quick clarification and willingness to align with regulators shows maturity. Rather than doubling down, they acknowledged the premature nature of the rollout and reaffirmed their intent to build responsibly. In Web3, that kind of responsiveness is essential for long-term trust. What It Means for Crypto Users For crypto investors, digital nomads, and builders who were excited about the initial announcement, the walk-back may be disappointing. Many saw this as a way to convert digital assets into real-world benefits, without needing to go through traditional banking or property-based investment programs. It is important to note that the program still exists in concept. A licensed partner is collaborating with TON to explore compliant, blockchain-based frameworks that could one day support access to residency. But there is no guarantee, and certainly no official program at this stage. Any applications submitted through the site are not linked to government decisions, and all visa issuance remains at the sole discretion of UAE authorities. This moment is a good reminder that Web3 is still maturing. The tech may move fast, but sovereign processes take time. That gap is not a flaw—it's a signal that serious innovation needs patience, governance, and careful alignment with law. Downside and Risk Moving Forward In Crypto The biggest risk from this situation is credibility. When projects rush out announcements that suggest real-world impact—especially something as high-stakes as immigration—they must be airtight in messaging. This fate happened just recently with Robinhood announcing that they could tokenize stocks, including access to OpenAI. Regulatory authorities do not operate on crypto timelines, and trust is hard to regain once it's lost. There's also a user risk. People who moved funds or acted on the early announcement may feel misled. While TON clarified things quickly, it's a cautionary tale for the space as a whole. The excitement around on-chain access to identity, location, and sovereignty is real—but those things must be grounded in established legal frameworks. Market volatility is another factor. TON's token surged following the initial announcement, only to retract after the clarification. That kind of price movement, driven by sentiment rather than fundamentals, is a reminder of how fragile these narratives can be. Looking Ahead with Realistic Optimism For Crypto Even without a live program, this story matters. It shows where the future is headed. The demand for blockchain-based access to real-world benefits is real, and the idea of tokenized residency will likely continue to evolve. The idea that your wallet might one day hold more than just currency—maybe your ID, your health record, your global access—is not far-fetched. TON now has an opportunity to lead in that direction. If they can work in tandem with regulatory bodies and refine this program into something official, it could become a model for how Web3 bridges into policy. But that path must be paved with clarity, structure, and mutual respect between technologists and governments. For now, there is no golden visa from TON. But there is a golden opportunity to build one, the right way. Did you enjoy this story about Ton, crypto and the UAE? 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Time of India
3 days ago
- Business
- Time of India
Cryptocurrency Live News & Updates : Pepe Coin Drops 40%, Yet Potential for Recovery
06 Jul 2025 | 11:35:11 PM IST Pepe Coin (PEPE) has fallen 40% from its May peak, currently trading at $0.000010. Analysts suggest a rebound is imminent due to a bullish falling wedge pattern and strong demand indicators. Pepe Coin has experienced a significant drop of 40% from its peak in May, now trading at $0.000010. Despite this, technical analysis suggests a potential bullish reversal, with a falling wedge pattern indicating a possible price increase. Meanwhile, Bitcoin and other altcoins are reacting to upcoming trade deals and Federal Reserve announcements, with Bitcoin recently hovering around $108,000. The UK government is tightening regulations on cryptocurrency, introducing new tax compliance rules aimed at capturing unpaid capital gains, which could raise £315 million by 2030. Additionally, the TON Foundation's recent announcement of a UAE Golden Visa program has sparked excitement and skepticism, leading to a 12% surge in toncoin's price. As the crypto market navigates these developments, traders are closely monitoring key indicators that could influence future price movements. Show more
Yahoo
3 days ago
- Business
- Yahoo
TON Surges on UAE Golden Visa News; Crypto Community Reacts With Excitement and Doubt
On July 6, Max Crown, CEO of the TON Foundation, announced on X a "groundbreaking initiative" offering toncoin (TON) holders the "exclusive chance" to secure a 10-year UAE Golden Visa. The program requires applicants to stake $100,000 worth of toncoin for three years and pay a one-time processing fee of $35,000. After the three-year lock-up period, staked funds can apparently be unlocked, and during this time, applicants reportedly earn an estimated 3–4% annual percentage yield (APY) on their staked tokens. The TON Foundation's website highlights several key alleged benefits: fast approval within seven weeks from document submission, a simple process without the need to purchase real estate or meet income thresholds, and inclusion of family members — spouse, children, and parents — at no extra cost beyond standard government fees. The staking is conducted through decentralized smart contracts on the TON blockchain, which it argues ensures transparency and security. The program claims to offer a capital-efficient alternative to traditional UAE Golden Visa routes, which the TON Foundation says typically require a minimum investment of approximately $540,000 in real estate or fixed deposits, often tied to illiquid assets and longer processing times. The TON Golden Visa initiative is touted as a faster, more affordable, and digitally native pathway to UAE residency, aligning with the country's ambition to become a global crypto and Web3 hub. The announcement had an immediate impact on toncoin's market performance. Shortly after the news broke, toncoin's price surged by 12%. At the time of writing, the token trades around $2.8944, reflecting a 5.36% increase over the past 24 hours. Additionally, the current 24-hour average trading volume is approximately 251.54% higher than the 30-day average, signaling heightened market interest and activity, according to CoinDesk Research's technical analysis model. Despite the enthusiasm, the announcement has generated controversy within the crypto community. Bobby Ong, co-founder and COO of CoinGecko, praised the partnership as an 'amazing story' that could attract whales and provide strong buy support for toncoin, although he expressed hope that the initiative is not a temporary scheme. Conversely, "Joe HedgedHog" ("@JoeHedgedHog" on X), an investment partner at Sigil Fund, pointed out that this is not an official UAE government partnership but rather a third-party legal firm using TON as a proxy to assist clients applying for the Golden Visa under the entrepreneur category. He noted that the firm could have used any cryptocurrency and that the staking requirement serves more as a token utility sink than a government mandate. Further skepticism came from "ivangbi" ("@ivangbi_" on X), the Head of Strategy & Business Development at Gearbox Protocol, who described the announcement as misleading. According to this perspective, the legal firm receives the non-refundable $35,000 fee and attempts to submit applications to the UAE government, which ultimately decides on approval. He argued that the staked TON balance is only one of several requirements and may no longer be relevant under updated rules. He went on to say that the absence of blanket approval for TON stakers means that acceptance is uncertain, and the program may primarily serve as a marketing tool coupled with token utility. Changpeng Zhao (CZ), co-founder and former CEO of Binance, expressed cautious interest in the TON Foundation's UAE Golden Visa announcement but highlighted several uncertainties. He noted conflicting information about the program's legitimacy, including claims that the $35,000 fee mainly goes to a legal agent rather than the government, and that the website's language may misleadingly suggest a guaranteed visa upon staking $100,000 in toncoin. CZ also mentioned that theUAE regulators classify staking as a regulated activity for which TON may lack licenses. Importantly, he pointed out that official UAE government channels do not currently recognize staking toncoin as a visa qualification, listing the standard Golden Visa categories instead. In a follow-up post, CZ reiterated his cautious optimism, emphasizing the need to 'trust but verify.' He acknowledged the potential benefits of such a program but stressed that official government partnerships and announcements are essential for legitimacy—none of which have yet been confirmed. His stance balances support for innovation and TON founder Pavel Durov with prudent skepticism about the program's current status. The UAE entrepreneur visa category, which this program appears to target, is designed for individuals owning economic projects of a technical or innovative nature. Applicants must provide approval letters from an accredited UAE auditor confirming the project's value (at least 500,000 AED), local authorities verifying the project's innovative character, and an accredited UAE business incubator to establish the proposed activity in the country. Technical Analysis Highlights Price surged from $2.75 to a peak of $3.06, representing an overall range of $0.34 (12.4%). Rally began abruptly during the 7:00 hour on 6 July, when volume spiked to nearly 13 million. Extraordinary 57.5 million volume surge in the 8:00 hour propelled TON to its high. Support has formed around $2.86-$2.89 with high-volume buying. Resistance appears at $3.03, suggesting the token has established a new trading range. In the last 60 minutes from 6 July 15:12 to 16:11, TON experienced a significant price surge of 2.4%. Dramatic breakout occurred at 15:48 when volume spiked to 1.68 million tokens. Token reached a peak of $2.93 at 15:50 before establishing a new support level around $2.90-$2.91. Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk's full AI Policy. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Associated Press
26-06-2025
- Business
- Associated Press
MEXC's $1M TON Campaign Shatters Exchange Records with $6.6 Billion in Trading Volume
VICTORIA, Seychelles, June 26, 2025 (GLOBE NEWSWIRE) -- MEXC today announced the successful conclusion of its groundbreaking $1 million TON partnership campaign, which generated over $6.6 billion in combined trading volume and attracted more than 110,000 participants—making it one of the most successful single-token promotional campaigns in cryptocurrency exchange history. The 30-day " TON Triumph " campaign reshaped market dynamics for The Open Network (TON) ecosystem while demonstrating the power of zero-fee trading structures and competitive staking rewards to drive mass adoption. Record-Breaking Results The campaign generated exceptional engagement across all components: Market Impact and Platform Performance MEXC executives reported that results exceeded their most optimistic projections and validated their strategy of removing traditional barriers while offering exceptional value. The campaign's zero-fee structure and high staking rewards attracted both retail and sophisticated traders, contributing to sustained high-volume activity throughout the 30-day period. TON Foundation representatives noted that the scale of participation demonstrated remarkable appetite for TON ecosystem engagement, creating a substantial new cohort of active TON holders who will contribute to long-term ecosystem growth. MEXC's infrastructure successfully handled the surge in activity, processing zero-fee trades across multiple TON markets while managing complex staking operations. Industry experts highlighted this as a significant technical achievement demonstrating mature infrastructure capabilities. Value Creation and Future Outlook The campaign created substantial value for participants across all categories, with early stakers in the 400% APR program achieving returns significantly outpacing traditional crypto opportunities. Zero-fee trading enabled participants to maximize profits from TON market movements, while USDE holders earned over 557,000 USDE in distributed rewards. MEXC strategy executives indicated these results validated their focus on emerging Layer-1 ecosystems and demonstrated market demand for innovative partnership structures. The company is evaluating similar large-scale campaigns with other blockchain ecosystems based on this success. The TON Triumph campaign's unprecedented success sets a new benchmark for cryptocurrency exchange partnerships and demonstrates the potential for innovative incentive structures to drive meaningful blockchain ecosystem adoption. As the crypto industry continues to evolve, this campaign serves as a blueprint for how strategic partnerships can create win-win scenarios that benefit exchanges, blockchain projects, and users alike. Campaign Final Statistics: About MEXC Founded in 2018, MEXC is committed to being 'Your Easiest Way to Crypto.' Serving over 40 million users across 170+ countries, MEXC is known for its broad selection of trending tokens, everyday airdrop opportunities, and low trading fees. Our user-friendly platform is designed to support both new traders and experienced investors, offering secure and efficient access to digital assets. MEXC prioritizes simplicity and innovation, making crypto trading more accessible and rewarding. MEXC Official Website ｜ X ｜ Telegram ｜ How to Sign Up on MEXC About TON The Open Network (TON) is a fully decentralized layer-1 blockchain designed for mass adoption. Originally conceived by Telegram and now developed by the open TON Community, the network offers exceptional scalability, accessibility, and ease of use. Risk Disclaimer: The information provided in this article regarding cryptocurrencies does not constitute investment advice. Given the highly volatile nature of the cryptocurrency market, investors are encouraged to carefully assess market fluctuations, the fundamentals of projects, and potential financial risks before making any trading decisions. Source Contact: Lucia Hu [email protected] Disclaimer: This content is provided by MEXC. The statements, views, and opinions expressed in this content are solely those of the content provider and do not necessarily reflect the views of this media platform or its publisher. We do not endorse, verify, or guarantee the accuracy, completeness, or reliability of any information presented. We do not guarantee any claims, statements, or promises made in this article. This content is for informational purposes only and should not be considered financial, investment, or trading advice. Investing in crypto and mining-related opportunities involves significant risks, including the potential loss of capital. It is possible to lose all your capital. 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Legal Disclaimer: This media platform provides the content of this article on an 'as-is' basis, without any warranties or representations of any kind, express or implied. We assume no responsibility for any inaccuracies, errors, or omissions. We do not assume any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information presented herein. Any concerns, complaints, or copyright issues related to this article should be directed to the content provider mentioned above. A photo accompanying this announcement is available at
Crypto Insight
03-06-2025
- Business
- Crypto Insight
Tether debuts omnichain gold stablecoin on TON
Tether announced a partnership with the TON Foundation to debut an omnichain version of its gold stablecoin XAUt on The Open Network, in an effort to expand the token across ecosystems. The new token, 'XAUt0,' was built on LayerZero's Omnichain Fungible Token standard, which allows tokens to be transferred through blockchains without wrapping or middlechains. XAUt, the token's non-omnichain version, is the largest gold stablecoin by market capitalization, with over $832 million, according to CoinGecko. It is closely followed by Paxos's Pax Gold, which holds a market cap of $811 million as of June 2. XAUt is available only on the Ethereum blockchain. Tether has more than 7.7 tons of physical gold backing the XAUT stablecoin, according to the company's Q1 2025 attestation report. Each XAUt token represents one troy ounce of the global asset, which is reportedly being stored in a Swiss vault. XAUt0 may mimic Tether's rollout of USDT0 (USDT0), a crosschain dollar-backed stablecoin deployed across Optimism's Superchain, an ecosystem that has at least eight blockchains. USDT0 is a bridged token of Tether's USDt, the company's dollar-backed stablecoin. Tether also deployed USDt onto the TON blockchain in April 2024. Gold rises backed by economic uncertainty Gold is considered a safe-haven asset and, in 2025, has experienced a steep appreciation in price due to economic uncertainty, particularly due to ongoing global trade wars. Gold's price was at $3,304 per ounce on May 30, up $2,327 from a year ago — a 29.5% jump in 12 months. In addition, Gold exchange-traded funds (ETFs) have experienced significant gains year-to-date, with the eight top funds by total assets experiencing increases of more than 25%. Gold ETFs are a popular way to trade the asset. Tether's omnichain gold token will compete with similar ETFs and other traditional gold investment instruments. Source:
