AlphaTauri’s multi-millionaire sponsorship team disclosed during the French Grand Prix due to the country’s market regulators

Janmeyjay Shukla | 24/07/2022
AlphaTauri's multi-millionaire sponsorship team disclosed during the French Grand Prix due to the country's market regulators

AlphaTauri is not able to advertise Fantom, one of their prime sponsors due to the ban on advertising cryptocurrency in France.

AlphaTauri will not be able to showcase one of its sponsors ahead of the French Grand Prix. This is mainly due to the French market regulators banning the industry from advertising.

The Italian team partnered up with Fantom for the 2022 season. Fantom is a smart contract platform based on blockchain technology. It is an alternative to Ethereum.

Fantom contains cryptocurrencies, and NFTs in its arsenal and is the world’s fastest-growing platform out there. It proudly sponsors AlphaTauri.

The Fantom logo is present on their AT03 car’s nose and halo. Moreover, both Yuki Tsunoda and Pierre Gasly’s helmets and uniforms contain the Fantom logo.

However, the team is actually covering up the logo at the French Grand Prix. Thus, the Fantom logo is nowhere to be visible during the race weekend.

Also Read: Lewis Hamilton may extend his Mercedes stay to win more World Titles

France’s ban on cryptocurrency advertisements

As per the L’Autorite Des Marches Financier (AMF), cryptocurrency-tied derivatives are speculative and risky in nature. Thus a ban on their advertising. The trading platforms have to abide by this rule and not promote themselves in France due to this particular reason.

Both the AlphaTauri drivers are supportive of the future of money. Pierre Gasly stated: “I have been an ardent supporter of crypto for some time now. The possibilities offered by the Fantom technology are incredibly exciting to me.”

Alpha Tauri team principal Franz Tost added: “We live in a world where cryptocurrencies cannot be ignored. The impact of blockchain technology is everywhere, from finance to supply chain applications, as well as contract management.”

Also Read: Ted Kravitz believes a $15 Million a year driver could turn down a contract extension with Aston Martin

Post Edited By: Tanish Chachra
AlphaTauri Pierre Gasly Yuki Tsunoda

About the author

Janmeyjay Shukla

Janmeyjay Shukla is an artist who contributes his expressions through words as an F1 writer and editor at The SportsRush. He is an F1 historian who has been watching the sport since he was a baby. Passed on from generation to generation, he has seen the prime of Michael Schumacher to the rise of Max Verstappen. A Mercedes fan from the days of the Brawn GP era, the sport runs in his blood. Besides Formula One, Janmeyjay is a Marketing Head and a musician who loves to sing and play Rock & Pop songs on guitar. His love for sports will never die as he is a loyal Liverpool Football Club fan as well!

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