Binance founder Changpeng Zhao, known as CZ, has reiterated his support for XRP, Solana, Zcash and several other digital assets as Solana faces increased scrutiny following its expansion efforts in China.
Broader support for leading blockchain projects
CZ used his social media platform to publicly endorse a selection of major cryptocurrencies and stablecoins. Specifically, he named Bitcoin (BTC), Ethereum (ETH), Binance Coin (BNB), XRP, Solana (SOL), Hyperliquid (HYPE), Zcash (ZEC), SIGN, and various stablecoins among the projects he personally supports.
His remarks emphasized a broader perspective, indicating consistent support for blockchain initiatives demonstrating progress in any country. CZ highlighted that his backing extends beyond individual assets, advocating for general industry growth worldwide.
“I am always supportive of any blockchain making any progress in any country. BTC, ETH, BNB, XRP, SOL, HYPE, ZEC, SIGN, all stablecoins, etc, you name it. I was happy that SOL can advertise and get an office in Shanghai.”
Binance, founded by CZ, is one of the world’s largest cryptocurrency exchanges, facilitating trading, digital custody, and blockchain ecosystem development on a global scale.
Solana’s push into China and its aftermath
Solana made headlines after opening an office in Shanghai and launching a major advertising campaign throughout the city. CZ initially welcomed this expansion, suggesting it could signal easing restrictions on crypto activity in China and potentially pave the way for other projects to follow suit.
However, Solana encountered challenges almost immediately. The platform postponed a planned event at Shanghai’s Shangri-La Hotel on October 16, after attendees reported law enforcement presence at the venue. Organizers cited logistical concerns for the delay, later revealing that attendee registrations had increased more than fourfold without sufficient notice, exceeding the number permitted by local authorities.
Lily Liu, president of the Solana Foundation, explained that this surge in interest forced the postponement. She described how the event’s registration data unexpectedly spiked, complicating compliance with local regulatory procedures.
Mini dictionary: Solana Foundation, a non-profit organization responsible for supporting the development, adoption, and decentralization of the Solana blockchain ecosystem.
Social media speculation mounted that CZ’s posts may have played a role in drawing official attention to Solana’s activities in China. CZ responded by stating that he only became aware of a Solana advertisement on a Shanghai building 12 to 24 hours after it was taken down. He argued that this timing made it unlikely for his comments to have prompted the removal, as the advertisement had already been withdrawn within 10 minutes of being placed.
| Event | Date | Outcome |
|---|---|---|
| Solana advertising campaign launch | October 2026 | Ad removed within 10 minutes |
| Solana Shanghai event (planned) | October 16, 2026 | Postponed due to law enforcement presence and surge in registrations |
XRP’s strengthened position
XRP’s inclusion in CZ’s list of supported assets further cements its standing in the eyes of major industry figures. His public endorsement of multiple Layer 1 blockchains reinforces an ongoing narrative that prominent crypto assets continue to draw attention and institutional confidence, despite complex regulatory environments in several markets.
The developments in Shanghai also highlight the risks associated with expanding blockchain businesses into China. Local compliance challenges, operational uncertainties, and fluctuating regulatory attitudes remain important considerations for any project seeking greater visibility in the country.
CZ has maintained his supportive stance throughout the controversy, underscoring his commitment to backing blockchain innovations across global markets. For now, his list of preferred digital assets remains unchanged.
