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Miami jury reaches verdict in NASCAR vs. LetsGoBrandon Foundation lawsuit

Brian Jones Profile Picby: Brian Jones10/07/25brianjones_93
NASCAR
Feb 22, 2017; Daytona Beach, FL, USA; A view of the NASCAR logo and the Toyota logo on the fire suit of NASCAR Cup Series driver Kyle Busch during Daytona 500 media day at Daytona International Speedway. Mandatory Credit: Peter Casey-USA TODAY Sports

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ruled in favor of NASCAR in the $76 million lawsuit filed by James Koutoulas, who alleged he lost money when NASCAR rescinded the sponsorship approval.

Bob Pockrass of Fox Sports said the jury determined that NASCAR wouldn’t have to expect its decision “would impact LGBCoin holder behavior.” In 2022, NASCAR denied LGBCoin’s request to be a sponsor for Brandon Brown in the Xfinity Series. The LGB stands for “Let’s Go Brandon,” a viral slogan that’s coded criticism for President Joe Biden.

The “Let’s Go Brandon” 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 “F**k Joe Biden.” Stavast misheard the crowd, telling Brown that they are chanting “Let’s Go Brandon.”

On Dec. 30, 2021, Brown announced that LGBCoin would be his primary sponsor for the 2022 season. NASCAR quickly denied the sponsorship. “We do not want to associate ourselves with politics, the left or the right,” then-NASCAR president Steve Phelps said in November 2021, per the Charlotte Observer.

Why NASCAR denied sponsorship from LGBCoin

“I think it’s an unfortunate situation,” Phelps added. “Do we like the fact that it kind of started with NASCAR and then is gaining ground elsewhere? No, we’re not happy about that. But we will continue to make sure that we have respect for the office of the president.”

Before the start of the 2022 season, Brown talked about how the slogan has impacted him. “There’s a lot of things that make me look like the enemy,” he told the Associated Press at the time. “But at the same time, my name’s out there. People know who I am now,” Brown added. “There’s some reputability to that.”

Brown competed in 150 Xfinity Races in his career, and the win at Talladega was his only victory. He also competed in 22 Truck Series races and earned one top-10 finish. Brown’s last NASCAR appearance was the final race during the 2022 season, which was the Xfinity Series Championship at Phoenix.