Brandon Brown, a NASCAR driver who indirectly became the inspiration for the slogan, intended to compete in a race car sponsored by LGBcoin, a cryptocurrency that right-wing commentators have shilled to add fuel to the "Let's Go Brandon" movement.
"Let's Go Brandon" has been used as a placeholder for the phrase "F*ck Joe Biden."
Per The Washington Post, Brown's team announced the sponsorship before the new year, saying the "patriotic coin dubbed 'America's Coin' aims to inspire positivity and unity, grounded in a strong belief of the American dream."
Yet, the deal was only accepted by a NASCAR employee that was not authorized to do so.
Yesterday, NASCAR executives reviewed the proposal and rejected it. Brown's team has also been notified of the decision.
This is not the first time LGBcoin—which only trades at $0.0000008—has made headlines.
Last year, conservative pundits took to Twitter to pump "right-wing" cryptocurrencies.
Candace Owens, a well-known conservative author and commentator, declared in November that she was "finally into crypto."
Her moment of inspiration? The LGBcoin.
"Finally into crypto and ALL IN on this Let's Go Brandon coin. Because, #LetsGoBrandon," she tweeted.
A rival to the LGBcoin is the slightly less subtle "F*ck Joe Biden" (FJB) coin—which isn't featured on CoinGecko. The FJB coin still captured the attention of yet another right-wing commentator, Ryan Fournier.
The co-founder of the American youth group "Students for Trump" tweeted his support for the cryptocurrency last year.