TON Foundation searches for VP of marketing following UAE ‘Golden Visa’ controversy

The Block

Jul 08, 2025 05:18:13

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The Open Network (TON) Foundation, the independent organization overseeing the development of the Telegram-focused Layer 1 TON, is hiring a vice president of marketing after the organization received criticism over its United Arab Emirates "Golden Visa" initiative, which reportedly offers a pathway to TON coin stakers to enter the country.

The TON Foundation VP of marketing position entails "shaping and executing high-impact marketing strategies" that bolster the TON ecosystem, drawing in new users, and amplifying the brand's global presence, according to a Monday job posting. This marketing executive would also work with the TON Foundation's directors to create budgets and collaborate with the video production 0n social media video content for TikTok, Instagram, and YouTube.

The new job posting follows controversy surrounding the TON Foundation's 10-year UAE "Golden Visa" initiative. The TON Foundation debuted the program on July 6, stating investors who stake $100,000 worth of Toncoin, TON's native token, for three years and pay a $35,000 processing fee can be eligible for a 10-year visa in the Emirati nation. The visa, which enables holders to live and work in the country, reportedly affords additional privileges compared to other types of UAE visas. In addition, Toncoin stakers could earn around 3-4% APY in staking rewards for their locked tokens.

After publicizing the initiative, the UAE government distanced itself from TON's golden visa program. The TON Foundation later clarified that the program is in its "early stages" and that it has not launched in partnership with or endorsement from the UAE government.

While the UAE Golden Visa program is typically reserved for public investors, property owners, entrepreneurs, or individuals of certain talents such as doctors, athletes, and creatives, the TON Golden Visa program aimed to provide a "unique and exclusive route" for the program without degree, profession, or other requirements, The Block previously reported.

The Block reached out to the TON Foundation for comment.

Toncoin spiked after the TON Golden Visa announcement; however the token's price has since decreased 3.21% in the past 24 hours to trade at $2.75 as of publication, according to The Block's TON Price Page.

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