CZ Denies Role in Solana Ad Removal as Shanghai Event Postponement Sparks Debate
Binance founder Changpeng Zhao has denied any involvement in the removal of Solana advertisements in Shanghai, China, after the promotional campaign and the postponement of a Solana event triggered speculation across social media. Zhao said he supports blockchain projects expanding into new markets and argued that his comments did not cause the advertisements to be taken down.
The controversy began after the Solana Foundation promoted its activities in Shanghai, including opening a new office and displaying advertisements on skyscrapers. Zhao initially welcomed the developments, noting that BNB Chain had not yet achieved similar progress in China and expressing hope that Solana's efforts could create opportunities for other blockchain projects.
However, reports that Solana's planned Shanghai event had been postponed and its advertisements removed prompted questions about the circumstances surrounding the campaign.
CZ Rejects Claims That He Targeted Solana
Social media posts about the event, which was planned at the Shangri-La Hotel in Shanghai, claimed that approximately 8-9 security personnel were present in the area and that attendees were prevented from entering for more than an hour.
Following the reports, Zhao questioned whether the Solana organizers had adequately understood China's local regulations. He also referred to a similar incident from the previous year. Some social media users interpreted his remarks as criticism of Solana, fueling speculation about his position toward the project.
As criticism increased, Zhao issued a further statement denying that he had any animosity toward Solana. He reiterated his support for blockchain projects making progress in different countries and included Bitcoin (BTC), Ethereum (ETH), BNB, XRP, Solana (SOL), Hyperliquid (HYPE), Zcash (ZEC), SIGN and stablecoins among the projects and assets he supports.
"I always support any blockchain project making progress in any country. I'm glad Solana was able to advertise and open an office in Shanghai. This could pave the way for other projects as well," Zhao said.
Zhao also disputed claims that his social media post led to the removal of Solana's advertisements. He said the advertisement projected onto a building in Shanghai's Bund area had reportedly been removed within just 10 minutes, while he did not see it on X until 12 to 24 hours later.
He argued that the timing undermined suggestions that his post had triggered the removal, adding that speech and media activities in China are monitored in real time.
Solana Foundation Cites Event Registration Surge
The postponement of the Shanghai event also raised questions about whether China's restrictions on cryptocurrency activities were directly responsible for the decision.
Lily Liu, president of the Solana Foundation, offered a different explanation for the postponement. Liu said registrations quadrupled overnight following the promotional campaign, pushing expected attendance beyond the limit that had been reported to local authorities.
According to Liu, the organizers postponed the event to comply with local regulations. Her explanation means that the postponement cannot be conclusively attributed to China's cryptocurrency restrictions based on the information available.
Does Solana's Shanghai Presence Signal a Policy Shift?
Zhao said Solana's ability to advertise and establish an office in Shanghai could present opportunities for other blockchain projects seeking to expand their presence in China. He suggested that the development might be interpreted as a sign that China was lifting its cryptocurrency ban, while making clear that such a change had not yet occurred.
Restrictions on cryptocurrency trading and related financial services remain in place in China. Solana's promotional activities in Shanghai therefore do not, by themselves, establish that the country's broader cryptocurrency policy has changed.
Zhao maintained that he welcomed Solana's initiatives and encouraged blockchain projects to continue pursuing development and adoption. The dispute has centered on the timing of the advertisement removal, the event postponement and the interpretation of Solana's activities under China's existing regulatory framework.
source: en.bitcoinsistemi.
Writer: Ethan Collins
Crypto Journalist
Ethan Collins reports on developments across the cryptocurrency and blockchain sector. His work covers market movements, protocol updates, regulatory changes, and emerging trends in digital assets.
He focuses on presenting complex topics in a clear and accessible manner for a broad readership.
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