Cryptocurrency meme coin LGBcoin to sponsor Brandon Brown in 2022

Late Thursday afternoon, a NASCAR spokesperson confirmed to Motorsport.com that the LGBcoin_io sponsorship for Brown has not yet been approved and the team "jumped the gun" in publicizing its announcement Thursday morning.

January 4th, 2022 update: NASCAR has officially confirmed that the sponsor will not be approved.

LGB.coin.io is a cryptocurrency meme coin on the Ethereum blockchain playing off the 'Let's Go Brandon' catchphrase that became popular in right-wing political circles following Brown's Talladega victory.

After the race win, an expletive-ridden chant against President Joe Biden erupted from the grandstands, which had happened previously at other sporting events. When the chants were misconstrued as 'Let's Go Brandon,' it became a new political meme almost instantly. 

Brown has been very quiet about the catchphrase until recently when he posted an op-ed in Newsweek about how it has affected him and made it difficult to find sponsorship. He went on to say that he has no interest in leading a political movement, nor does he wish to endorse any side.

However, the 28-year-old then added: "I'm also no longer going to be silent about the situation I find myself in, and why millions of Americans are chanting my name. I hear them, even if Washington does not."

Brown has since announced this new full-time sponsorship deal centered around the controversial catchphrase. The goal of the LGBcoin appears to be to retake the slogan and turn it into something more positive.

LGBcoin will be the primary sponsor for the No. 68 Brandonbilt Motorsports Chevrolet Camaro in all 33 events next year. Per a press release, LGBcoin is a "patriotic coin dubbed America’s Coin' (that) aims to inspire positivity and unity, grounded in a strong belief of the American dream."

“We are thrilled to partner with Brandonbilt Motorsports and Brandon Brown for the 2022 NASCAR Xfinity Series season,” said James Koutoulas, LGBcoin HODLer and founder of Typhoon Capital Management. “Brandon is not only an incredibly talented driver, but also a thoughtful individual wise beyond his years. His commitment and singular focus on his profession is inspiring and his personal story is one that we can all be proud of—an American story of success and perseverance. Brandon is truly America’s Driver.

“We are proud to support Brandon this season, to help him continue his American dream. 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.’”

Brown said of the new sponsorship deal: “Having the financial support of LGBcoin is incredible, especially at such a pivotal time in our team’s growth as we work to build to the next level of competition. From wondering if we would have the financial means to continue to compete, to my first major win (at Talladega no less), to becoming an unintentional meme, this past season was a rollercoaster. The support of sponsors like LGBcoin empowers us to be as competitive as possible and I’m looking forward to competing hard on the track in 2022.”