On July 4, UFC star Khamzat Chimaev promoted a meme coin called SMASH on Twitter, which subsequently crashed to zero. Chimaev has since deleted his tweets about the coin. On July 5, he began facing backlash and accusations of insider trading and a pump-and-dump scheme. On July 6, Chimaev's team issued an apology, claiming they were misled by a group that approached them to record a promotional video. On July 7, the incident drew criticism from various quarters, including fellow MMA fighter Sean Strickland, who suggested that Chimaev attempted to scam his fans.