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ZEC $1,115 Binance founder CZ voices support for XRP, ZEC and SOL amid China crypto controversy
CZ backed broad blockchain growth as Solana faced issues around its Shanghai event.
Key takeaways
- Event date set. Solana's Shanghai community event was postponed on October 16 after law enforcement arrived at the venue.
- Registrations ran high. Solana Foundation president Lily Liu linked crowding to a sudden 4x spike in registrations.
- Ads faced removal. Authorities allegedly took down outdoor advertising within 10 minutes amid scrutiny of crypto initiatives.
What happened
Binance founder Changpeng Zhao said he supports blockchain progress in any country. He named BTC, ETH, BNB, XRP, SOL, HYPE, ZEC, SIGN and stablecoins as assets he views in a positive light. He described himself as a fan of adoption across different networks.
The remarks came as Solana opened a new office in Shanghai and placed promotional billboards across the city. CZ welcomed the visibility in the commercial hub. He said such steps might be a sign that China could be loosening its crypto restrictions.
Solana's planned gathering at Shanghai's Shangri-La Hotel was postponed on October 16. People at the site faced law enforcement authorities, while organizers cited logistical reasons. Solana Foundation president Lily Liu said a sudden 4x spike in registrations exceeded the filed attendance figure. Outdoor advertising was allegedly taken down within 10 minutes.
First $1.52Latest $1.30-14.5% over the period
Points are daily observations, not closing prices.
Why it matters
The episode puts focus on China's stance toward crypto activity. China has banned crypto trading and mining multiple times in the past. Builders face uncertainty when regulatory signals speak louder than formal announcements.
Some social media users speculated that CZ's earlier remarks on Solana's expansion may have drawn the attention of authorities. That link remains unproven. The debate shows how public comments by prominent founders can shape sentiment around sensitive market entries.
What the data shows
XRP changed hands at 1.3 USD at the time of observation. Trading volume stood at 1011623793 USD.
Background
Solana had pushed hard into China in recent weeks. The new Shanghai office and city advertising marked a visible bid for local presence. CZ had initially framed the move as helpful for other blockchain projects seeking a foothold.
What is still unclear
- It remains unclear whether CZ's comments played any role in the response to Solana's Shanghai plans.
- It remains unclear whether China policy is shifting or whether the event issues reflected local logistics and filing limits.
Questions readers ask
What did CZ say about XRP, SOL and ZEC?
CZ said he supports blockchain progress in any country. He included XRP, SOL and ZEC among BTC, ETH, BNB, HYPE, SIGN and stablecoins he views positively.
Why was Solana's Shanghai event postponed?
The gathering scheduled for October 16 was postponed after law enforcement arrived at the venue. Organizers cited logistical reasons, while Lily Liu pointed to a 4x spike in registrations beyond the filed figure.
Did CZ's comments cause the Solana China controversy?
Some social media users speculated that his earlier remarks drew official attention. No evidence in the reports confirms that link.
