Iran explores crypto payments for war weapons (2:09)
The ongoing war between the U.S.-Israel and Iran has led to several high-profile crypto events in Dubai being cancelled or postponed due to safety concerns.
First, TOKEN2049 Dubai organizers announced that the event will not take place this year and is getting postponed to Apr. 21-22, 2027.
Related: Khamenei dead, 75% chance Iran names new Supreme Leader by March 31
Another major crypto event, TON Gateway Dubai, announced on March 12 that the safety conditions in the UAE area have forced organizers to cancel the event scheduled for May 1-2.
If anyone purchased a ticket or booked hotel reservations, they will receive a refund within the next 14 days, the TON Gateway Dubai team said.
The team also shared that it will explore different formats to produce a Gateway event before the end of this year and will share the announcement.
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Formula One races in Bahrain and Saudi Arabia cancelled
Formula One announced on March 15 that the Bahrain and Saudi Arabian Grands Prix will not take place in April. Formula One president and CEO Stefano Domenicali said, “While this was a difficult decision to take, it is unfortunately the right one at this stage considering the current situation in the Middle East."
Some of the world's leading crypto trading exchanges are sponsorship partners of global motorsports.
Coinbase, the largest crypto trading exchange in the United States, is a partner of the Aston Martin team at F1. The two iconic brands entered into the partnership last year and the entire transaction got settled with Coinbase's USD-pegged stablecoin, USDC.
Crypto.com, a popular crypto trading exchange, has been a partner with Formula One since 2021. In 2024, the two brands extended the partnership through to 2030.
The race starts during the Formula 1 Crypto.Com Miami Grand Prix 2025 in Miami International Autodrome, Miami, USA, on May 4, 2025.
Kraken, another crypto exchange popular in the U.S., has been a partner of the Williams Racing F1 team since 2023.
The OKX crypto exchange has been a partner of the British racing team, McLaren, since 2022.
These partnerships demonstrate how far the crypto industry has come as it now occupies a space once dominated by decades-old brands like Standard Chartered, American Express, Barclays, BNY, Aramco, LVMH, Qatar Airways, and Louis Vuitton.
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