$BRIAN's Sudden Collapse Raises Questions About Crypto CEOs' Social Media Influence

The Base-based memecoin $BRIAN experienced a remarkable surge in market capitalization after Coinbase CEO Brian Armstrong briefly changed his X profile picture to a related meme image.

The token, themed around Armstrong as 'The Bald Bull,' rose to nearly $30 million in market cap before plummeting over 90% within 24 hours when he reverted the profile picture.

On-chain investigators raised concerns about possible insider trading after discovering wallets that profited before the rally.