Middle East War Cancels F1 Races and Disrupts Crypto Events in Dubai

TLDR

• TOKEN2049 Dubai has been postponed to April 2027 and TON Gateway Dubai canceled due to Middle East conflict
• F1 officially canceled the Bahrain (April 12) and Saudi Arabian (April 19) Grand Prix races
• F1 faces up to $200 million in lost revenue and $80 million in lost EBITDA from the two dropped races
• Crypto exchanges OKX, Crypto.com, and Bybit hold multi-million dollar F1 sponsorship deals affected by the cancellations
• Multiple other UAE business events have also been postponed or delayed, including Middle East Energy Dubai

The ongoing war in the Middle East has forced Formula 1 to cancel two Grand Prix races and pushed major crypto conferences out of the region entirely.

F1 officially confirmed the cancellation of the Bahrain Grand Prix, set for April 12, and the Saudi Arabian Grand Prix, scheduled for April 19. The decision followed weeks of speculation as airspace closures, military strikes, and travel disruptions made hosting the events unsafe.

Bahrain and Saudi Arabia were struck by Iranian missiles and drones following joint U.S. and Israel military attacks on Iran that began February 28. The conflict entered its third week with no signs of slowing down.

There were discussions about replacing the races with circuits at Imola and Portimão, but the short timeline made that impossible. The 2026 calendar now stands at 22 races, leaving a five-week gap between the Japanese Grand Prix on March 29 and the Miami Grand Prix on May 3.

Saudi Arabia and Bahrain pay some of the highest hosting fees in F1, reportedly around $115 million combined. Guggenheim Partners estimates F1 could lose up to $200 million in revenue and $80 million in EBITDA from the two cancellations.

Crypto Sponsorships Take a Hit

The race cancellations are a direct problem for crypto companies that have invested heavily in F1.

OKX, valued at $25 billion, has been a primary partner of McLaren since 2022. Crypto.com holds a global F1 partnership through 2030. Bybit previously signed a deal reportedly worth up to $150 million with Red Bull Racing.

Kraken, Coinbase, and Binance also hold motorsport sponsorships that may be affected. Neither OKX nor Crypto.com responded to requests for comment.

F1 race broadcasts draw over one billion viewers annually. For regional crypto exchanges, the Bahrain and Saudi races were especially valuable for connecting with the Gulf’s active crypto market.

Dubai Crypto Events Also Canceled

The disruption reached beyond motorsport. TOKEN2049 Dubai, one of the world’s largest crypto conferences with over 15,000 typical attendees, was postponed from late April to April 21–22, 2027. Organizers cited safety concerns, travel uncertainty, and logistics.

TON Gateway Dubai, focused on The Open Network blockchain ecosystem, was canceled outright. Ticket holders received full refunds.

Other regional events were also pushed back. Middle East Energy Dubai moved to September. Affiliate World Global postponed its Dubai edition to 2027. The Dubai International Boat Show delayed its next event with no new dates announced.

Later F1 races in the region, including the Qatar Grand Prix and the Abu Dhabi Grand Prix in December, remain on the calendar for now. Organizers said they are monitoring the situation closely.

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