Singapore Hits the Brakes on Crypto Ads at F1 Grand Prix has paid millions to sponsor Formula One. When the event comes to Singapore later this month, that could mean a lot of empty space.

The company has been part of a drive by cryptocurrency firms to plaster their logos across F1, a high-octane sport whose audience has grown in recent years. Crypto mogul Sam Bankman-Fried’s FTX Trading Ltd. has a deal with Mercedes, Binance has signed on with Alpine, and Bybit has teamed up with Red Bull.