Coinbase CEO's 'Confession' on The Ansem Show: Swapping X Profile Picture Led to Meme Coin Crash, Grossly Misjudged Community

July 27th, Coinbase CEO Brian Armstrong recently stated in a conversation with crypto influencer Ansem that he completely misjudged the community's reaction to changing his Twitter profile picture, which led to a sharp drop in related meme coins. "This was a good wake-up call, and I will try to communicate expectations more clearly in the future."

Earlier, the popular meme coin Brain, which adopted the native B20 token standard introduced through an upgrade on Base chain Beryl, took its name from Coinbase CEO Brian Armstrong.

Brian Armstrong briefly changed his profile picture to match the token's icon, sparking community speculation and driving a rapid increase in trading volume. However, as Brian Armstrong switched his profile picture back, the meme coin experienced a severe sell-off and gradually trended towards "zero." Brian Armstrong faced community backlash due to this event.