China has banned the crypto business. So why is Solana opening a splashy Shanghai office?

Solana’s opening of a fancy new office in a Shanghai skyscraper has set the crypto industry abuzz, with some speculating that the intensifying US-China tech rivalry could be creating a window of opportunity for crypto firms looking to engage with the Chinese market.

Solana, which operates one of the world’s largest cryptocurrencies, has taken office space in Shanghai’s Pudong district and launched a high-profile advertising campaign in the city, according to social media posts released by...