Binance founder Changpeng “CZ” Zhao says a Solana (SOL) ad on Shanghai’s Bund waterfront came down within 10 minutes. He also rejected claims that his X post triggered the removal.
The Solana ad had hinted at a softer stance on crypto in China. However, organizers postponed a Solana event in the city on Friday after officers kept guests outside.
Why CZ Criticized Solana Advertisment in Shanghai
Some users on X suggested that CZ’s earlier praise for Solana’s new Shanghai office drew official attention to the campaign. His post drew more than 1 million views, carrying Solana’s China push well beyond the crypto community.
CZ disputed that link in a follow-up post. Citing details that have since emerged, he said the ad on the Bund building came down within 10 minutes.
He only came across it on X 12 to 24 hours later, in a post that still showed the Solana ad. Since China monitors speech and media in real time, censors had acted long before his post.
CZ had welcomed the office as a possible path for other blockchains. A public ad, he argued, would have signaled that China had unbanned crypto.
What the Shanghai Setback Reveals About China’s Ban
Instead, CZ conceded that “that’s not quite the case yet, it seems.” By then, officers had already stalled the Solana Shanghai event.
Mainland China has banned crypto trading since 2021. Moreover, regulators widened the crackdown in February to cover stablecoin issuance and asset tokenization.
Some market watchers see a Chinese opening as a trigger for the next Bitcoin supercycle. The swift Solana ad removal suggests that scenario remains distant.
CZ nevertheless called the campaign a good effort and urged builders to keep pushing adoption. He said he supports progress by any blockchain, from Bitcoin and BNB to XRP and SOL.
His view draws on experience. Binance launched in China in 2017, before new rules on token sales pushed the exchange offshore.
For now, the pulled Solana ad marks a setback rather than a dead end. Solana still keeps its Shanghai office. CZ, who pitches his own crypto playbook to governments, sees every such step as progress for the whole industry.
