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Changpeng Zhao isn’t staying quiet. The Binance founder, better known as CZ, went public with a list of cryptocurrencies he’s rooting for — and it’s a longer list than most people expected.
Why It Matters
CZ's endorsement of a diverse range of cryptocurrencies highlights a growing trend among major industry figures to promote blockchain technology's broader adoption, particularly in light of regulatory challenges faced by projects like XRP and Solana. This support could influence market sentiment and investor confidence, potentially leading to increased interest and investment in these assets as the industry navigates hurdles such as the Shanghai expansion's setbacks. Furthermore, CZ's emphasis on regional growth underscores the importance of fostering innovation in various markets, which could contribute to the overall resilience and evolution of the crypto landscape.
Posted on X, CZ’s statement named Bitcoin, Ethereum, BNB, XRP, Solana, HYPE, Zcash, SIGN, and stablecoins as assets he supports. No ranking, no caveats, just a flat endorsement of blockchain growth across the board. He said he wants to see blockchain expand in every region — including, notably, China. The timing matters here. Solana had just made a pretty bold move into Shanghai, and things got complicated fast.
Not quietly complicated. Loudly complicated.
Solana’s Shanghai Push Runs Into Trouble
Solana opened a new office in Shanghai and rolled out an advertising campaign there. Big ads, visible placement. CZ initially seemed supportive of the push, suggesting Solana’s moves could open doors for other blockchain projects trying to get a foothold in China. That’s a significant endorsement from someone with CZ’s reach, and it probably amplified attention on the whole thing — maybe more than anyone wanted.
Then the ad came down. Fast. Within 10 minutes of going up, apparently. No official explanation from authorities. The rapid removal sparked immediate speculation that local regulators weren’t thrilled about crypto promotions appearing on Shanghai buildings. Whether that’s actually what happened is unclear — but the optics were hard to ignore.
And then the event got postponed.
Solana had scheduled a gathering at the Shangri-La Hotel in Shanghai on October 16. The plan hit a wall when registrations came in way above what organizers had prepared for — a fourfold jump past the number coordinated with local authorities, per reports. Law enforcement was present at the venue. Organizers blamed logistical issues for the delay, not any direct order to shut it down, but the presence of police didn’t exactly make the situation look routine.
CZ Pushes Back on Blame
Some people online started connecting dots — CZ’s supportive comments, the ad removal, the postponed event — and wondered whether his public backing had drawn unwanted scrutiny from Chinese authorities onto Solana’s operations. CZ pushed back on that directly. He said his remarks couldn’t have caused the ad to come down, pointing out that the advertisement was pulled within 10 minutes of appearing, which he seems to think rules out any causal link to his comments.
Whether that logic fully holds up is probably a matter of debate. But CZ’s point is basically that the timeline doesn’t work — his comments weren’t fast enough to trigger a 10-minute removal. Fair enough, maybe.
Solana Foundation President Lily Liu weighed in on the registration surge, saying the spike in sign-ups showed real, growing interest in blockchain technology inside China. That’s the optimistic read. The less optimistic read is that the unexpected demand created a logistical mess and forced a postponement at a venue where law enforcement had already shown up.
Both things can be true at once.
What This Means for Crypto in China
China’s relationship with crypto is well-documented at this point. The country has gone through multiple rounds of crackdowns, outright bans on trading and mining, and a general posture of skepticism toward decentralized assets. That doesn’t mean there’s zero appetite for blockchain inside the country — Lily Liu’s read on the registration numbers isn’t wrong. Demand exists. But the gap between demand and what’s actually permissible is wide, and Solana just ran straight into it.
The ad removal is the part that’s hard to explain away. A promotional display for a crypto project disappearing in 10 minutes in Shanghai isn’t a coincidence. It’s a signal, even if no authority formally said so. Blockchain companies operating in or near China have learned to read those signals carefully, because formal statements often don’t come — just actions.
For CZ, the situation puts him in a slightly awkward spot. He’s publicly backing Solana and other assets while also trying to make clear he’s not the reason Solana’s Shanghai plans got messy. His list of supported assets — XRP, ZEC, SOL alongside BTC and ETH — reads like a broad coalition statement for the industry rather than a targeted endorsement of any single project. But the timing of his X post relative to Solana’s Shanghai moves made the connection inevitable.
The crypto community’s reaction has been mixed, as it usually is. Some see Solana’s Shanghai attempt as bold and necessary. Others think it was always going to end this way. The Solana Foundation says it’s still committed to the region despite the postponement.
Lily Liu put the registration surge at roughly four times the expected number.
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Frequently Asked Questions
Which cryptocurrencies did CZ say he supports?
CZ listed Bitcoin, Ethereum, BNB, XRP, Solana, HYPE, Zcash, SIGN, and stablecoins as assets he backs, posting his support on X.
Why was Solana’s Shanghai event at the Shangri-La Hotel postponed?
Organizers said registrations surged to roughly four times the number planned with local authorities, creating logistical problems that forced a postponement on October 16.
