Solana ran an advertisement in Shanghai’s Lujiazui, and the central bank responded: Investigations will be launched against the involved entities and individuals. According to the Financial Times, the cryptocurrency platform Solana recently placed an advertisement on the exterior wall of the Citigroup Building in Shanghai’s Lujiazui, sparking widespread discussion. It had originally planned to hold offline events in Shanghai and other locations, but these were abruptly halted by authorities prior to launch. A spokesperson from a relevant department of the People’s Bank of China stated that Solana was promoting its brand in China through domestic entities, engaging in marketing activities for virtual currencies. The Solana token issued by Solana is essentially a virtual currency, and it also provides technical services for the issuance and trading of other virtual currencies such as USDT—all of which constitute illegal financial activities. The PBOC has already joined relevant authorities to suspend these activities and will investigate the involved entities and individuals. The spokesperson added that the People’s Bank of China will, together with relevant departments and local governments, continue to crack down on domestic virtual currency-related business activities, with a focus on domestic virtual currency traders and domestic affiliates of overseas virtual currency issuance and trading platforms, to safeguard economic and financial order.