Solana's Shanghai Entity Established in June with No Capital Ties to Main Body; Developer Event Postponed Due to Over-registration

Key Points of This Article

• Shanghai entity represented by Chinese executives has no capital ties to Solana's main body
• Shanghai event postponed, foundation explains due to over-registration

Shanghai Entity Represented by Solana's Chinese Executives Established

On the 17th, Chinese cryptocurrency media Wu Blockchain reported that an entity represented by executives responsible for Solana's operations in China was established in Shanghai. This information comes from publicly available data from China's corporate information service "Qichacha," which shows that Claire Du, co-responsible for Solana China, is the legal representative.

This week, Solana team members just shared photos of the opening of their Shanghai office. However, according to registration information, none of the entities are funded by individuals, and there are no investment relationships indicating direct legal ties to Solana's blockchain or development company Solana Labs, or Solana (SOL).

According to reports, the entity is named "Shanghai Solana Enterprise Management Co., Ltd." with a registered capital of 5 million yuan (approximately 11.9 million yen, based on 1 yuan = 23.8 yen) established in June this year. The name "Solana" corresponds to the Chinese representation of Solana. In August, the company jointly established "Shanghai Yao Kun Qiu Suo Digital Technology Co., Ltd." (registered capital of 10 million yuan, approximately 23.8 million yen) with other investors, holding a 45% stake.

Even Jiang, co-responsible for Solana Foundation's China region, has been appointed as the chairman of the joint venture, and Claire Du is also listed as a director. The business objectives include technology development, system integration, as well as the operation of conferences and exhibitions.

Shanghai Office Opening and Event Postponement

On the 14th, Solana launched a large digital advertisement on the exterior of the Citigroup Tower in Lujiazui, Shanghai, announcing the opening of its Shanghai office. A foundation representative posted on X that this office is located at the highest position in the world available for commercial use.

Two days later, on the 16th, the morning program of the developer event "Solana Accelerate China 2026" scheduled in Shanghai was postponed on the day of the event. There were reports that participants at the Shangri-La Hotel in Shanghai were unable to enter for over an hour, and local law enforcement personnel were present. The organizers initially cited operational issues at the venue as the reason.

Lily Liu, president of the Solana Foundation, later provided an explanation on X. She stated that the number of registrations had quadrupled overnight following prior announcements, greatly exceeding the limit reported to local authorities. The postponement was a decision made to "comply with local requirements."

The event was planned to take place in four cities, with scheduled dates of the 18th in Hangzhou, the 20th in Shenzhen, and the 22nd in Beijing. The organizing team announced on the 17th that the events in Hangzhou and Shenzhen would also be postponed due to the significant over-registration. The rescheduled date for Shanghai has not yet been determined.

In mainland China, trading and related services for cryptocurrencies are prohibited, and in February 2026, eight institutions, including the People's Bank of China, reiterated their regulatory policies. Solana-related events were also cut short in October 2025 in Shenzhen due to concerns over venue capacity and safety.

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