Binance Founder Changpeng Zhao Reaffirms Support for XRP, ZEC and SOL Amid Solana's China Controversy

Changpeng Zhao (CZ), founder of crypto exchange Binance, has reiterated his support for major cryptocurrencies including XRP, Zcash (ZEC) and Solana (SOL), speaking amid a controversy over Solana's aggressive push to expand in China.

In a recent post on X, the former Binance CEO made clear that his backing extends to blockchain adoption regardless of the cryptocurrency or network involved.

"I'm always supportive of any blockchain making any progress in any country," CZ said.

Zhao went on to list Bitcoin (BTC), Ethereum (ETH), BNB, XRP, SOL, HYPE, ZEC, SIGN and stablecoins as the digital assets he is bullish on.

His remarks landed at a sensitive moment. Solana's ambitious move to establish a foothold in Shanghai had just hit an unforeseen roadblock, and speculation was building that CZ's earlier public statements may have played a role in the controversy.

The controversy has drawn outsized attention in part because of where it unfolded: mainland China has banned cryptocurrency trading and mining since 2021, leaving any high-profile crypto presence in the country inherently notable.

Solana's Shanghai Plans Hit an Unexpected Snag

Solana became a talking point earlier this week after it publicized a new office in Shanghai, accompanied by a large-scale advertising campaign across the city.

CZ initially welcomed the development. He suggested that Solana's advertisements and physical presence in Shanghai could serve as a gateway for other blockchain projects, and pointed out that moves like these might indicate China could be loosening its crypto restrictions — a notable suggestion given the country's longstanding prohibition on crypto trading and mining.

Things did not go as planned, however. Solana's planned event at Shanghai's Shangri-La Hotel was postponed on October 16, and it was reported that people at the event found themselves facing law enforcement authorities. Organizers, for their part, said the postponement was due to logistical reasons. Solana Foundation President Lily Liu later explained that a sudden 4x spike in registrations had exceeded the number of attendees the foundation filed with local authorities to attend.

The episode fueled speculation on social media that CZ's earlier comments on Solana's expansion may have caught the attention of Chinese authorities.

CZ denied those claims. He noted that the Solana advertisement on a building in Shanghai was reportedly taken down within 10 minutes, and reiterated that his post on X could not have led to the advertisement being pulled, as he only became aware of it 12 to 24 hours after it had already been on display.

CZ's comments reaffirmed the stance he has maintained throughout the episode: that his support for blockchain progress extends across networks and borders. How Solana's Shanghai footprint develops from here — and whether further details emerge about the postponement — remains to be seen.