Bitcoin white paper makes its F1 racing debut on Kraken-sponsored car

The Formula 1 car for the Williams Racing team will feature an excerpt from the Bitcoin white paper, as a result of a sponsorship deal with United States-based crypto exchange Kraken.

In a March 31 tweet, Kraken showed its logo shaped like the legendary sea monster contained text from the opening of the 2008 document released by creator Satoshi Nakamoto in 2008. The Kraken logo appeared to include the entirety of the abstract and introduction, as well as the sections on transactions and timestamp server of ‘Bitcoin: A Peer-to-Peer Electronic Cash System’.

The crypto exchange announced on March 28 it would be partnering with the Williams Racing F1 team as part of a sponsorship and Web3 deal. The arrangement marked one of the first times a crypto company had sponsored an F1 team since many similar deals fell apart amid the 2022 market crash.

Related: Formula One files ‘F1’ trademarks covering crypto, NFTs and Metaverse

Practice for the next Formula One event is currently underway at the Australian Grand Prix in Melbourne, with the main race scheduled for April 2. In 2022, roughly 420,000 people reportedly attended the 4-day event in person.

Magazine: Billions are spent marketing crypto to sports fans — Is it worth it?

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