Coinbase CEO Says Changing X Avatar Leading to Meme Coin Crash Was a Misjudgment of the Community

Odaily reported that on July 27, Coinbase CEO Brian Armstrong stated during an interview with crypto KOL Ansem that his misjudgment of the community's reaction led to the crash of the related Meme coin after changing his X avatar. He called it a "wake-up call" and said he will try to express his expectations more clearly in the future.

Previously, the Meme coin Brain gained market attention because it adopted the native B20 token standard introduced by the Base chain Beryl upgrade, and its name was derived from Brian Armstrong. After Brian Armstrong briefly changed his X avatar to match the token's icon, the community speculated, driving up trading activity.

Subsequently, Brian Armstrong changed his X avatar again, leading to a massive sell-off of Brain, which eventually dropped to nearly zero, sparking controversy within the community.