Armstrong's Avatar Sends Brian Coin Plummeting by 86% in 6-Day Token Saga

Coinbase CEO Brian Armstrong found himself at the center of a whirlwind in July, as his profile picture change sent shockwaves through the crypto market. The token dubbed 'Brian Coin' or '$BRIAN' skyrocketed by an astonishing 86% after Armstrong changed his avatar to its artwork on July 16.

However, just two days later, Armstrong's profile picture was changed again, this time to a CryptoPunk NFT, and the token's value plummeted by nearly 86%. The market cap dropped from around $13.2 million to $1.5 million in a matter of hours.

Armstrong took to social media on July 20 to clarify his stance on the token, stating that he had no connection to its creation or promotion and would not support coins in which he is directly involved.