Coinbase CEO Says Social Media Posts Aren’t Investment Advice or Token Endorsements

Brian Armstrong, chief executive officer of Coinbase, said recent controversy over his social media activity should not be interpreted as investment advice or a signal backing any specific token.

On July 20, Armstrong wrote that he simply shares content he finds interesting or entertaining, and that his posts and profile pictures do not amount to support for or a commitment to any project.

Coinbase and Base cannot list every token because of regulatory and compliance requirements, he added. They also will not promote specific coins or try to boost prices. Instead, the company will focus on supporting projects that create long-term value for customers through developer grants, investments and DeFi protocol integrations.

Armstrong had earlier changed his X profile picture to an image resembling the logo of Brain, a Base-based memecoin known as Coinbase Man. Brain's price then surged, before plunging after he changed the profile picture again.