News Details
Ferrari suffer serious blow ahead of 2023 season
Formula 1's relationship with various crypto platforms is rapidly ending, with Ferrari having become the latest team to drop their partnership with their cryptocurrency sponsor. The Italians ended their multi-year deals with Velas blockchain and Snapdragon early, a move which will see the Maranello-based outfit lose $55 million as a result. The cryptocurrency market has been thrown into turmoil following FTX filing for bankruptcy and the arrest of CEO Sam Bankman-Fried, with the future of crypto-based sports sponsorships being put into the spotlight. Ferrari entered their deal with Velas in 2021 with the aim of creating unique fan experiences and NFTs; however, according to...
Full Story »
Full Story »
3y ago from Formula1News.co.uk
0
You May Also Be Interested In...
Toto Wolff's warning comes true as two sponsors tear...
Toto Wolff's cryptocurrency warning is beginning to come true, with...
3y ago from Formula1News.co.uk
Ferrari breaks ties with sponsor Velas
After Red Bull Racing and Mercedes, Ferrari has also cut ties with a...
3y ago from GPBlog.com
Ferrari makes multiple changes to its partnership...
Ferrari appears to have ended their partnership with two of their premium...
3y ago from F1Technical.net
Lewis Hamilton ‘definitely can' win 9th title in...
With 2023 now very much here, it's time to start looking ahead to the new...
3y ago from Formula1News.co.uk
Elsewhere On The Network
Popular On MGPToday.com
KTM and Tech3 unveil 2026 MotoGP bikes in joint launch
No description available...
15m ago from Motorsport.com
KTM and Tech3 unveil 2026 MotoGP challengers
KTM and its sister team Tech3 have officially launched its 2026...
15m ago from MotorsportWeek.c...
Why Valentino Rossi is putting pressure on Ducati over...
No description available...
17h ago from Motorsport.com
Fermin Aldeguer to miss the Sepang test, but won't...
No description available...
20h ago from Motorsport.com
Popular On IndyCarToday.com
Ryan Briscoe to coach RLL drivers, fueling speculation...
Rahal Letterman Lanigan Racing has announced that it has brought on two...
9h ago from MotorsportWeek.c...
Wienie 500 returns for second year in build-up to Indy...
Indianapolis Motor Speedway has announced that the Oscar Meyer Wienie 500...
13h ago from MotorsportWeek.c...
Alex Palou responds to McLaren court ruling
Alex Palou has been ordered to pay McLaren Racing over $12 million...
3d ago from MotorsportWeek.c...
IndyCar penalizes Abel Motorsports for rig testing
No description available...
3d ago from Motorsport.com
Popular On TotalWRC.com
More than 10 tuners interested in joining WRC under...
No description available...
19h ago from Motorsport.com
How Oliver Solberg picked up his “crazy dream”...
No description available...
1d ago from Motorsport.com
Oliver Solberg crowned the youngest ever Rallye Monte...
Oliver Solberg and Elliot Edmondson created a piece of Rally Monte Carlo...
1d ago from MotorsportWeek.c...
WRC Monte Carlo: Oliver Solberg dominates to claim...
No description available...
1d ago from Motorsport.com
Popular On GunnersToday.com
Some Tuesday thoughts and pictures and stuff …
Morning all. I have some thoughts about stuff today. Here they are in...
1h ago from Arseblog.com
Arsenal latest: Odegaard calls for togetherness after...
No description available...
19h ago from SkySports.com
Arsenal vs Kairat Prediction and Betting Tips |...
Arsenal take on Kairat at home in their final UEFA Champions League league...
16h ago from SportsKeeda.com
Ødegaard admits Arsenal title tilt fuelled by pain of...
t;li>Captain says it is a ‘good factor’ in Premier League...
20h ago from TheGuardian.com
Comments
Hottest News
LIVE: 2026 F1 Barcelona Pre-Season Test - Day 2
The second day of on-track action for F1 in 2026... Read More »
1h ago from RacingNews365.com
‘Two-horse race' predicted as testing begins
Jan.27 Formula 1's first group test of the 2026... Read More »
2h ago from OneStopStrategy.com
Mercedes to miss Day 2 of 2026 Formula 1 shakedown in...
Mercedes announced on Tuesday morning that they... Read More »
55m ago from GrandPrix247.com
