NASCAR has won its lawsuit against the LetsGoBrandon Foundation, which accused the league of destroying the value of its cryptocurrency, LGBCoin. On Monday night, a Miami jury ruled in favor of NASCAR in the $76 million lawsuit filed by James Koutoulas, who alleged he lost money when NASCAR rescinded the sponsorship approval.<\/p>\n
Bob Pockrass of Fox Sports<\/a> said the jury determined that NASCAR wouldn\u2019t have to expect its decision \u201cwould impact LGBCoin holder behavior.\u201d In 2022, NASCAR denied LGBCoin\u2019s request to be a sponsor for Brandon Brown in the Xfinity Series. The LGB stands for \u201cLet\u2019s Go Brandon,\u201d a viral slogan that\u2019s coded criticism for President Joe Biden. <\/p>\n The \u201cLet\u2019s Go Brandon\u201d slogan began after Brandon Brown won the Talladega Xfinity race in October 2021. After the race, Brown was interviewed by NBC Sports reporter Kelli Stavast, and the crowd began changing \u201cF**k Joe Biden.\u201d Stavast misheard the crowd, telling Brown that they are chanting \u201cLet\u2019s Go Brandon.\u201d <\/p>\n On Dec. 30, 2021, Brown announced that LGBCoin would be his primary sponsor for the 2022 season. NASCAR quickly denied the sponsorship. \u201cWe do not want to associate ourselves with politics, the left or the right,\u201d then-NASCAR president Steve Phelps said in November 2021, per the <\/a>Charlotte Observer<\/a>. <\/p>\n \u201cI think it\u2019s an unfortunate situation,\u201d Phelps added. \u201cDo we like the fact that it kind of started with NASCAR and then is gaining ground elsewhere? No, we\u2019re not happy about that. But we will continue to make sure that we have respect for the office of the president.\u201d<\/p>\n