Crypto’s Hold on Formula 1 Sponsoring Gets Tested in Singapore
- Market rout has prompted regulators to tighten rules
- McLaren to debut special crypto-themed car for Singapore race
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At Formula One’s Miami Grand Prix in May, the dizzying displays of crypto companies sponsoring the sport were inescapable, with Crypto.com’s blue branding covering every imaginable surface along the race track.
When Singapore hosts the most popular motor sport this weekend, the visibility of digital assets will be far more subdued. The Monetary Authority of Singapore will let teams show their crypto sponsors’ logos only on cars and uniforms at the Singapore Grand Prix, but no advertising will be permitted around the track or in the local area.