Landon Cassill Facing Problems After Crypto Sponsor Declares Bankruptcy

Last year, Landon Cassill jumped onto the cryptocurrency bandwagon. For a while, crypto companies had been creeping into NASCAR, but Cassill took it a step further. In 2021, Voyager Digital became the first cryptocurrency company to be a primary sponsor for a driver. Moreover, the Xfinity series driver was even paid for the sponsorship deal using cryptocurrency.

Despite many doubters, Cassill has firmly stuck by the company, since he was a longtime fan. Last year, things went off without a hitch and the company elected to return for the 2022 season.

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They even expanded to include a few Cup Series races, and it has attracted around 3.5 million users and $5.9 billion in assets.

Where has it all gone wrong for Landon Cassill?

Sadly, things seem to have gone awry for the 33-year-old. The bad news is that the electronic currency is currently facing something known as a ‘crypto winter’. This was a term coined by investors when the currency is losing its value. In fact, over the course of the year, cryptocurrency value has plummeted by $2 trillion.

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In light of this, Voyager Digital has filed for bankruptcy earlier this month. The good news for the Spire Motorsports #77 Cup driver is that the company still has plans to continue operations.

Earlier this week, they unveiled a recovery plan and promised their customers that they will get their funds back. In other words, they are trying to undergo a reconciliation and fraud prevention process.

This weekend at the New Hampshire Motor Speedway, the driver and his Kaulig Racing #10 Xfinity team will still race. However, amid all the uncertainty, they will run with a different sponsor.

Beyond that, the future of the organization is up in the air, and Cassill’s career is also dependent on it. Admittedly, the team and the driver have been silent on their immediate future, but we can be sure that they have backup plans.