Changpeng Zhao wants one thing on the record: he did not get Solana’s Shanghai ad pulled.
The Binance founder said on X that the advertisement on the city’s Bund came down within 10 minutes of appearing. He says that happened before he had even seen it. His post praising Solana followed later.
A celebration, then a crackdown
On October 15, 2026, CZ publicly applauded Solana’s new Shanghai office and its skyline advertising in the city. He framed the move as a meaningful step forward for the blockchain industry as a whole. He also set it against what BNB Chain had accomplished, a notable gesture of goodwill toward a rival ecosystem.
On October 16, 2026, Solana’s Accelerate China event at the Shangri-La hotel in Shanghai was postponed after police showed up. Attendees reported being kept outside the venue for more than an hour.
Organizers attributed the delay to “last-minute logistical considerations.” They did not elaborate on what, if anything, had passed between them and the authorities.
Speculation filled the gap. The theory making the rounds was simple: CZ’s high-profile praise had drawn the attention of regulators. In that telling, his post triggered scrutiny that led to the ad on the Bund being taken down just 10 minutes after it went up.
CZ’s version of the timeline
CZ rejected that account directly. His argument rests on sequencing.
By his account, the ad was already gone within 10 minutes of being displayed. He says he did not see it until much later. According to the research timeline, his social media post came 12 to 24 hours after the ad was removed.
CZ also pointed to China’s strict real-time content monitoring. His point was that the ad’s rapid removal fits a system built to catch this kind of material quickly, with or without a nudge from a celebrity founder on X.
China’s long, complicated relationship with crypto
China has kept its ban on crypto trading in place since 2021. At the same time, the country continues to allow blockchain development.
This is also not Solana’s first rough experience in mainland China. The postponement marked the second time in a year that a Solana event in the country was disrupted. The earlier incident took place in Shenzhen in 2025.
What this means for Solana and foreign crypto projects
For Solana, the immediate cost is reputational and logistical. A postponed flagship event and a vanished billboard are not the launch most teams envision for a new office.
CZ’s role here is interesting on its own terms. He offered public support to a competing chain, then had to spend time explaining that the support did not backfire.
The near-term reality is a canceled ad and a delayed conference.
What to watch next is fairly straightforward. Will Solana reschedule Accelerate China, and under what terms? Will organizers say more about what the authorities raised?
Disclosure: This article was edited by John Chen. For more information on how we create and review content, see our Editorial Policy.