Coinbase CEO Profile Pic Change Sparks 37x Meme Coin Surge

Coinbase CEO Brian Armstrong briefly changed his profile picture on X to a cartoon mascot, setting off a massive rally for a meme coin on the exchange's Base network. The token, named BRIAN, saw its market cap explode from less than $1 million to $37 million in just a few hours. Trading volume on decentralized exchanges spiked instantly as buyers rushed in.

The meme coin is officially called Coinbase Man, and its developers had previously sent about 80 percent of its total supply to Armstrong's personal wallet. Even though neither Coinbase nor Armstrong ever endorsed the project, traders interpreted the profile picture change as a direct nod of approval.

The excitement did not last long. The rally quickly collapsed when Armstrong switched his profile picture back to his usual CryptoPunk. The token crashed by over 90 percent, with its market cap tumbling back down to around $1.3 million as traders rushed for the exits.

This wild swing highlights the extreme risks of trading meme coins based on social media signals. While Armstrong has advocated for rules that protect smaller investors, this episode shows how quickly retail funds can vanish when speculative hype takes over.