LGBCoin.io Not Approved By NASCAR, Social Media Outrage• January 8, 2022 9:08 pm • Comments
Decentralized meme cryptocurrency LGBCoin.io has found itself in the spotlight recently due to a controversy on whether it could be approved as a sponsor by NASCAR.
Originally, LGBCoin.io was announced as the the sponsor for Brandonbilt Motorsports for the the 2022 NASCAR Xfinity Series season.
From the initial communications between the company and NASCAR, it seems that they had originally received written approval from an official confirming that LGBCoin.io would be listed as a sponsor and that the company had followed the proper approval process.
However, NASCAR rebutted that the decision was never officially approved and that the sponsorship announcement was invalid.
The @brandonbrown_68 went through proper @NASCAR approval process and received formal written approval. If @nascar revokes approval, we will bring suit upon them on behalf of all @LGBcoin_io HODLers who were damaged by their reliance on @nascar written approval & #cancelnascar https://t.co/Tt2dIhWhkS pic.twitter.com/3ooI4VTSMG
— James Koutoulas (@jameskoutoulas) January 5, 2022
LGBCoin.io HODLers have responded in disappointment and the company is threatening to take legal action against NASCAR.
The incident sparked outrage as other crypto & politically affiliated sponsorships have been approved by NASCAR in the past. For example, previous NASCAR driver Bubba Wallace’s car had featured a Black Lives Matter paint scheme.
— Bill is Right (@The_Real_BV) January 6, 2022
“I don’t think there’s anything wrong with LGB Coin,” Florida Governor Ron Desantis stated.
“First of all, it wasn’t Brandon’s fault that any of this happened. If you remember what happened, he was being interviewed at a NASCAR race. There were fans in the crowd who were chanting very colorful language about Biden.”
“And it was obvious that’s what was happening. But, then the reporter ran interference on that and said, ‘Oh they’re chanting Let’s Go Brandon, isn’t that great.”
“People are looking at it and saying, ‘Wait a minute, you’re gas-lighting us, again. And we’re sick of it.’ “
“I think part of the problem is, there were certain things that were ok in the last 4 years. You could say whatever you wanted about Trump. And that was fine. You know what, I didn’t complain about it. It’s a free country.”
“Now, all of the sudden, it all has to be sanitized. Just because the regime doesn’t want to have anybody speak out against it.”
Desantis concluded, “I don’t think that’s the way we want to go. I’m very much in favor of letting people speak their mind, however they want to do it.”
The way that NASCAR responds to the public reaction will very much determine how NASCAR is perceived in the future as more criticism surfaces on NASCAR’s approval process and whether or not the organization is treating all potentially sponsors equally . As of right now, NASCAR has not yet responded to these tweets.
Brandonbilt Motorsports: So can we run the LGB Coin sponsorship?
— Dank Nascar Memes (@dank_nascar) January 6, 2022
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