The dispute between Binance founder Changpeng Zhao and Solana intensified after the Solana Foundation’s promotional activities in Shanghai drew widespread attention. Solana opened a new office in the city and placed advertisements on skyscrapers. Initially, Zhao responded positively, saying it was surprising that Solana could advertise and open an office in China while BNB Chain had not achieved similar success. He expressed hope that progress by one blockchain project would benefit the wider industry.
However, reports that Solana’s planned Shanghai event at the Shangri-La Hotel was postponed and advertisements were removed triggered debate on social media. Posts claimed that around 8-9 security personnel were present in the area and that participants were prevented from entering for more than an hour. Zhao then questioned whether Solana organizers were sufficiently aware of local regulations in China, referencing a similar incident last year. Some users interpreted his remarks as a negative attitude toward Solana.
Zhao later defended himself, stating he had no animosity toward Solana. He said he supports the progress of all blockchain projects, including Bitcoin, Ethereum, BNB, XRP, Solana, Hyperliquid, Zcash, SIGN and stablecoins. He added: "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 denied that his post caused the advertisement removal, saying the Solana advertisement projected onto a building in Shanghai’s Bund area was removed in just 10 minutes. He noted that he saw the advertisement on X between 12 and 24 hours later, arguing that his post could not have triggered the removal because speech and media activities are monitored in real time in China.
He also assessed that Solana being able to advertise and open an office in Shanghai could create significant opportunities for other projects, though he said it was clear China had not lifted its cryptocurrency ban. Solana Foundation president Lily Liu stated that registration numbers quadrupled overnight following promotional activities, and that the event was postponed to comply with regulations because the number of participants exceeded the limit reported to local authorities.
