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Toncoin (TON) Dips 5% as TON Foundation Denies UAE Partnership Speculation

Toncoin (TON) Dips 5% as TON Foundation Denies UAE Partnership Speculation

Published:
2025-07-07 19:44:17
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Toncoin TON News -

The Open Network Foundation has clarified that no official agreement exists with the United Arab Emirates government, dispelling rumors of a Golden Visa program for Toncoin holders. Market reaction was immediate, with TON's price falling over 5% to $2.77 following the announcement.

While acknowledging early-stage discussions about potential collaboration, the foundation emphasized no formal approvals have been granted by UAE regulatory bodies. The statement specifically referenced three UAE authorities - ICP, SCA, and VARA - in confirming the absence of any launched initiatives.

Toncoin's market position remains substantial despite the decline, boasting a $14.2 billion fully diluted valuation and $330 million in daily trading volume. The cryptocurrency's sensitivity to regulatory developments underscores the market's appetite for institutional validation.

|Square

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