Brandon Brown won a NASCAR auto race.
AP Photo/John Amis
A report from the Washington Post states that NASCAR has rejected a sponsorship from a coin based on a chant against President Joe Biden.
Brandon Brown was to be sponsored by the LGBcoin in the new year. The "let's go Brandon" chant has become a popular replacement for "F--- Joe Biden" among conservatives, which is why thecryptocurrencies is worth a fraction of a penny.
The sponsorship was announced on the social networking site last month with a photo of a red, white, and blue Chevrolet Camaro with an ad for thecryptocurrencies.
The announcement was premature as the NASCAR employee who signed off on the deal was not authorized to do so. The proposal was rejected by executives on Tuesday.
Representatives for NASCAR and Brandonbilt didn't respond to Insider's request for comment.
The coin was started in October after Brown won the series. A crowd began chanting "let's go Brandon" in an interview after changing their anti-Biden phrase.
The phrase became a meme after Brown admitted to The New York Times that he was uncomfortable with it because he didn't want to hurt his chances at a sponsorship.
An official with knowledge of NASCAR's deliberations said that the organization made clear in November that sponsorship based on the phrase would not be allowed.
The phrase "let's go Brandon" has been heard at sports arenas and even in Congress. The LGBcoin, which is called "America's coin," has rallied 148% since it was founded.
Business Insider has an original article.
