Tuesday, 19 March 2024

Thursday was a roller coaster of a day for Xfinity Series driver Brandon Brown and the Brandonbilt Motorsports team.

Unfortunately for them, they’re at the point of the ride where they’re barreling downhill and may be about to throw up. And it’s at least partially their own fault.

It all started Thursday morning when Brandon Brown tweeted: “I’m excited to welcome @LGBcoin_io aboard my No. 68 Chevrolet Camaro as our 2022 NASCAR Xfinity Series full-season primary partner!” and included a link to a press release announcing the news.

“LGBcoin is a new, decentralized meme cryptocurrency similar to other meme coins and tokens such as Dogecoin and Shiba Inu, that has achieved a market capitalization of more than $300 million in less than six months. The patriotic coin dubbed “America’s Coin” aims to inspire positivity and unity, grounded in a strong belief of the American dream,” the press release reads.

“We are proud to support Brandon this season, to help him continue his American dream,” says James Koutoulas, founder of Typhoon Capital Management, in the release. “If we do our job right, when you think of us, and you hear, ‘Let’s Go Brandon,’ you’ll think and feel, ‘Let’s Go America.’”

At first glance, this was great news. Every team wants a full-season primary sponsor, especially a small family team like Brandonbilt. But immediately, the NASCAR community started to raise red flags.

First, how could a meme coin afford to sponsor a race team for a full season? Is this a legit sponsor or just a “pump and dump” scam full of smoke and mirrors where a check will never clear, as we’ve seen in the past?

Published in NASCAR

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