CZ defends Solana after Shanghai ads were removed and event postponed

  • Changpeng Zhao rejected claims that his post caused Solana’s Shanghai advertisement removal.
  • The Bund advertisement disappeared within 10 minutes, while Zhao saw it 12 to 24 hours later.
  • Solana’s Shanghai event was postponed after registrations quadrupled and exceeded the reported attendance limit.

Solana’s promotional campaign in Shanghai drew more than 1 million views on X before its Bund waterfront advertisement was removed within 10 minutes and a Friday event was postponed. Binance founder Changpeng Zhao said he saw the advertisement online only 12 to 24 hours later, rejecting claims that his post or praise for Solana’s Shanghai office triggered official action. The Solana Foundation had opened an office in the city, while President Lily Liu said registrations quadrupled overnight and attendance exceeded the limit reported to local authorities. Zhao said the campaign could have suggested that China had relaxed its cryptocurrency restrictions, but acknowledged that this had not happened. Mainland China has banned crypto trading since 2021, and regulators widened the crackdown in February to include stablecoin issuance and asset tokenization. Some market watchers view a Chinese opening as a potential catalyst for a future Bitcoin supercycle, but the swift removal of the advertisement suggests that prospect remains distant. Solana continues to maintain its Shanghai office, and Zhao described the campaign as a setback rather than an end to broader adoption efforts.

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