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Futures

"2024 F1: Drivers Departing and Their Post-Race Paths"

2024-12-07

As the 2024 Formula One season reaches its conclusion, the motorsport arena is gearing up to bid adieu to several familiar figures who will be departing the F1 grid. This year, a diverse mix of seasoned veterans and emerging talents is set to embark on new journeys in their careers. From those who have served for years to those with promising futures, the 2024 season marks a significant turning point for some drivers and an era of uncertainty.

Witness the Departure of F1's Beloved Drivers

Valtteri Bottas – A Veteran at a Crossroads

Bottas has achieved remarkable feats in his 12-season career, clinching 10 Grands Prix. He also secured second place in the Formula One World Drivers’ Championship on two occasions, in 2019 and 2020. In 2022, he joined Sauber (formerly Alfa Romeo).Unfortunately for the Finnish driver, KICK Sauber has decided to part ways with both their drivers at the end of this season, leaving his future hanging in the balance. With Sauber set to transition into Audi’s works team in 2026, Gabriel Bortoleto has already been confirmed as one of the team’s drivers for 2025, and Nico Hulkenberg’s announcement came earlier in the season.While Bottas won’t be racing in F1 next year, there are rumours suggesting he could return to Mercedes in a reserve driver capacity. This potential move could open doors for him in the World Endurance Championship (WEC), where Mercedes is set to make its debut in 2025.

Zhou Guanyu – Fighting for a Seat

Zhou Guanyu made history as the first Chinese driver in Formula 1. His consistent performances have earned him respect within the racing community. However, like his teammate Bottas, Zhou’s position is precarious as Sauber prepares for its Audi rebranding.Despite an outstanding performance in Qatar, where he ended the team’s long streak of pointless races, Zhou’s seat for 2025 remains uncertain. While Hulkenberg and Bortoleto have secured Sauber’s 2025 seats, Zhou is facing competition from younger prospects.Zhou is in a race against time to prove his worth to other F1 teams and secure his place on the grid.

Kevin Magnussen – Haas’s Longtime Soldier

Kevin Magnussen has been loyal to Haas since 2017, returning in 2022 to continue his partnership with the team. However, 2024 will be his seventh and final season with Haas.The American team has confirmed that Esteban Ocon and Ferrari junior Ollie Bearman will be their drivers for 2025.A return to F1 in 2025 has been ruled out. BMW M Motorsport recently announced that Kevin Magnussen will race in its LMDh programme starting in 2025.Whether the Danish driver will compete in the FIA World Endurance Championship (WEC) and the IMSA SportsCar Championship remains to be seen. His 2025 racing schedule will be announced in due course.

Liam Lawson – Red Bull’s Rising Star in Waiting

Liam Lawson currently drives for RB, having replaced Daniel Ricciardo mid-season. However, his future with the team is uncertain, as he does not have a confirmed seat for the 2025 season.While Yuki Tsunoda has already been confirmed for 2025, Lawson’s prospects at Red Bull are overshadowed by stiff competition from emerging talents.Despite signing a contract extension with Red Bull, Sergio Perez’s future also hangs in the balance due to his poor performances throughout the 2024 F1 season. Lawson, along with Tsunoda, is considered a potential replacement if the team decides to part ways with the Mexican driver.Additionally, Red Bull’s junior driver Isack Hadjar, who could win the F2 title this weekend, is also vying for a promotion to F1, with RB being a likely destination.There are also rumours linking Williams’ Franco Colapinto with a potential move to Red Bull. However, the chances of the Argentine driver joining either Red Bull or RB seem slim.

Franco Colapinto – The Rookie with a Question Mark

Logan Sargeant was replaced by Franco Colapinto halfway through the 2024 season. In his sudden entry into F1, he has shown glimpses of potential.However, the team’s decision to sign Carlos Sainz for 2025 leaves Colapinto without a confirmed seat.Although the Argentine is aware that he will only be driving the car until the end of the year, he is a part of Williams Academy. He is likely to continue to be mentored by the team in some capacity after this race stint. Unless he is able to secure a race seat elsewhere.But whether Colapinto will find a race seat elsewhere or be relegated to a reserve role remains uncertain.As the curtain falls on the 2024 F1 season, the departures of these drivers signify the end of an important chapter in Formula One. Each of them has left an indelible mark on the sport, whether through remarkable performances, unwavering determination in the face of challenges, or simply being an integral part of the dynamic F1 world. While their time on the grid may be coming to an end, their contributions to the sport will always be remembered. As new talent emerges and the sport continues to evolve, F1 is bound to take on a different look in the years ahead. For the departing drivers, the future holds numerous opportunities, and their legacies in motorsport will continue to inspire generations to come.

In a recent and significant development, Coinbase International, the overseas branch of the Coinbase exchange, has achieved a remarkable milestone by listing its 100th perpetual futures contract. This achievement showcases Coinbase's dedication to offering a wide range of trading options and expanding its global footprint. As Coinbase International shared in a recent X post, "We’ve officially listed our 100th perpetual future on Coinbase International Exchange. That’s 100 unique opportunities for you to diversify, trade, and grow."

Unlock 100 Trading Opportunities with Coinbase International

Significance of the 100th Perpetual Futures Listing

This milestone holds great importance for Coinbase's international exchange. It not only demonstrates the platform's growth and success but also provides traders with an extensive array of trading instruments. The addition of the 100th perpetual futures contract expands the trading possibilities, allowing investors to diversify their portfolios and explore new markets. With this achievement, Coinbase continues to solidify its position as a leading player in the cryptocurrency trading space.Moreover, the listing of these perpetual futures contracts is expected to have a positive impact on the global cryptocurrency market. It attracts more attention and interest from traders and investors worldwide, further fueling the growth and development of the industry.

Upcoming Perpetual Futures Listings on Coinbase International

Notably, Coinbase's 100th perpetual futures listing is just the beginning. The platform is set to boost its offerings with four upcoming perpetual futures listings: Moo Deng, Algorand, The Sandbox, and Mog Coin. These additions are expected to bring even more excitement and opportunities to traders.Coinbase will provide support for Moo Deng, Algorand, The Sandbox, and Mog Coin perpetual futures on Coinbase International Exchange and Coinbase Advanced. As stated in an X post, "The opening of our MOODENG-PERP, ALGO-PERP, SAND-PERP, and 1000MOG-PERP markets will begin on or after 9:30 am UTC 12 DEC 2024."Mog Coin, a meme token launched on Ethereum's layer-1 blockchain, has gained significant attention. After Coinbase announced on Dec. 3, 2024, that it would be added to their listing roadmap, the token's value surged by over 20%, bringing its market cap close to $1 billion. Currently, Mog Coin is ranked among the top 150 cryptocurrencies by market capitalization.Coinbase's decision to add Mog Coin to its listing roadmap follows similar success stories for other meme tokens like Moo Deng (MOODENG). When Moo Deng was listed, it saw a dramatic 80% surge in value.Algorand positions itself as an energy-efficient, quantum-secure, single-layer blockchain with instant finality, consistent high throughput, and cheap fees. Since December 1st, the Algorand (ALGO) network has witnessed a remarkable 300% increase in the number of active addresses, jumping from 123,000 to over 427,000. This exponential growth, driven by increased adoption and the growing use of blockchain technology, has propelled the ALGO price to a peak of $0.6133.The Sandbox is a virtual world where users can create, own, and monetize their game experiences using NFTs and the SAND token. In the last 24 hours, the SAND token has risen by 0.63% to $0.90, indicating the platform's continued growth and popularity.

Reports suggesting the emergence of a new BRICS currency to rival the US dollar have been widely debated. South Africa, an important member of the BRICS bloc, has taken a firm stance, stating that such claims are fundamentally false. In a statement by South Africa’s Department of International Relations and Cooperation (DIRCO), it is clarified that the BRICS bloc is not working on a currency to replace the USD. Instead, the discussions focus on using national currencies for trade settlements among member nations.

Unraveling the Myths Surrounding the BRICS Currency

Background and Misinterpretations

Last year in May, reports emerged suggesting that the BRICS bloc was developing a new currency backed by gold and other precious metals. However, South Africa now clarifies that these reports have misinterpreted the intentions of the economic bloc. The discussions within BRICS are centered around facilitating trade among member countries using their own national currencies, aiming to mitigate the impact of foreign exchange fluctuations. This approach emphasizes the importance of national currencies in international trade and financial transactions.

According to DIRCO, the focus is on strengthening correspondent banking networks and developing infrastructure for settlements in national currencies. This initiative aims to promote greater economic cooperation among BRICS nations and reduce reliance on the US dollar.

South Africa’s stance is in line with its support for increased use of national currencies in international trade. By doing so, it seeks to safeguard its economy from the volatility of foreign exchange markets.

President-elect Trump’s Ultimatum

President-elect Donald Trump has issued an ultimatum against BRICS, stating that if the bloc creates or backs a dollar alternative, he plans to take severe measures. Trump emphasizes the importance of the US dollar and warns that any attempt to replace it will face significant tariffs.

His remarks highlight the geopolitical significance of the US dollar and the potential challenges faced by BRICS in promoting alternative currencies. However, BRICS nations have expressed varying levels of support for a common currency, with Russia and Brazil being more inclined towards the idea.

South Africa, on the other hand, takes a more conservative approach, emphasizing the need for a cautious approach while still recognizing the importance of the US dollar in the global economy.

BRICS Nations’ Diverse Positions

Overall, BRICS nations have shown diverse views on the matter. While some, like Russia and Brazil, are firmly behind the idea of a common currency, South Africa advocates for a more measured approach.

This diversity reflects the complexity of the global economic landscape and the challenges faced by BRICS in navigating the international monetary system. Each nation has its own economic interests and considerations when it comes to currency issues.

Despite the differences, BRICS remains committed to strengthening economic cooperation and exploring ways to enhance their collective influence in the global economy.

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