A failed event four decades ago kept Dallas-Fort Worth from becoming a car racing hub.

Why it matters: Though Dallas has a lot of empty land for circuits, it hasn't hosted a Formula 1 race since 1984.

The big picture: Texas Motor Speedway, in Fort Worth, hosts NASCAR races and other large events.

• This month, IndyCar announced the new Grand Prix of Arlington, with a temporary 2.73-mile circuit built around AT&T Stadium and Globe Life Field. The first race will be held in March 2026.

Yes, but: The 1984 Dallas Grand Prix left a "searing impression" on Formula 1 as a lesson on how not to host a race, per a new story by the Athletic. That's likely why the organization hasn't returned.

• Vegas, Miami and Austin host annual F1 races.

What happened: Organizers decided to hold the Dallas race in July, despite concerns about 100-degree temperatures. 

• Over 100,000 spectators packed Fair Park to watch the 26 drivers. It was "a race of attrition," Lotus-Renault driver Derek Warwick told the Athletic. Drivers passed out, engines wore out and tires melted.
• Months later, a City Council member filed a class-action lawsuit against Dallas Grand Prix Inc., alleging that the company didn't consult enough with neighborhoods around Fair Park. The FBI and SEC also investigated one of the main investors over his business dealings.
• The Dallas Grand Prix went into bankruptcy in 1985.

Zoom out: Taking lessons from the Dallas race, F1 and Austin's Circuit of the Americas decided to host a race in the fall. 

• Austin will host its 12th U.S. Grand Prix this weekend.

What they're saying: "It's one thing to want to introduce your city to F1. It's another to find the balance between sport and spectacle, to nail the logistics of running a race — practical, political and financial," the Athletic writes.

Dallas-based MoneyGram International has considered buying bitcoin as a treasury management strategy and may float the idea with its new private equity owner.

Why it matters: It would be uncommon to see a private-equity-backed company take on such direct risk in crypto.

Catch up quick: Private equity company Madison Dearborn took MoneyGram private for roughly $1.8 billion in 2023.

• MoneyGram first considered the strategy when it was publicly traded, but its board of directors shot down the proposal, CEO Alex Holmes told Axios at a conference this week.
• While offering cash-in and cash-out in over 135 currencies, the company already takes on currency risk. Having a position in bitcoin could help balance that, Holmes says.

The big picture: Holmes' comments come as the company has increasingly developed crypto-related products as potential long-term growth drivers in cross-border payments.

Zoom out: In recent years, a number of public companies — Austin-based Tesla, MicroStrategy and Block — have bought bitcoin and held the asset in reserve as a way to manage their cash balances.

• MicroStrategy in particular has stood out. It is the largest corporate holder of crypto and considers bitcoin its main reserve asset.

The bottom line: MoneyGram wouldn't jump into bitcoin as aggressively as MicroStrategy, Holmes said.

• Crypto-related services account for less than 10% of MoneyGram's revenue.

👕 Update your wardrobe. Uniqlo opens its first North Texas location this weekend. The grand opening will include T-shirts and totes designed by local artists, an embroidery studio and giveaways.

• Store opens 10am Friday at Galleria Dallas.

👻 Get spooked. Grab your family and a picnic blanket to watch "Hocus Pocus" together.

• 7-9pm Friday at the Monument Realty PGA District. Free.

🦋 Fly away. The Trinity River Audubon Center is hosting Monarch Mania, a program detailing the monarch butterfly's migration. Participants will have the chance to catch and tag butterflies to track their progress. 

• 10-11am Saturday at 6500 Great Trinity Forest Way. Free, but registration is limited. 

🎷 Vibe with art. The Dallas Museum of Art and D Magazine are hosting Meet Me at the Museum with live music by Stockton Helbing's Helbing Jazz Initiative.

• 6-9pm Saturday at the DMA. General admission $60 for non-members. 

⛪️ Fairview has created a defense fund to cover legal costs in preparation for a possible lawsuit from the Church of Jesus Christ of Latter-day Saints after the town denied a permit for the church to construct a temple with a 174-foot-tall spire. (DMN)

🪦 Tarrant County has adopted a new policy to bury or cremate unclaimed bodies instead of donating them to medical schools. (NBC5)

🏟 LaGrave Field will be demolished next month. The minor league baseball stadium has fallen into disrepair since the Fort Worth Cats stopped playing there in 2014. (Fort Worth Report)

📅 Start planning your days ahead.

Shatterproof Walk to End Addiction Stigma at The Sound at Cypress Waters on Nov 9: An opportunity for people to gather without shame or judgment and create a national support system for anyone impacted by substance use. Free.

Hosting an event? Email [email protected].

Looking for a fall road trip adventure? The weather is finally cooling enough to hit the desert out west.

Driving the views: Our San Antonio colleague Megan Stringer took a road trip to Big Bend National Park, Marfa and Carlsbad Caverns National Park in New Mexico.

What she said: When I shared photos with family and friends who don't live in Texas or haven't spent much time here, they were all shocked. My phone was filled with replies along the lines of, "That's Texas?!"

• Seeing a black bear in the desert was another surprise — for me and for others. Of course, all you seasoned Big Bend travelers out there would surely roll your eyes.

The bottom line: The trip was a nice reminder of just how vast and diverse the Texas landscape truly is.

• Our state stretches from the Chihuahuan Desert in the west to the swamps out by Caddo Lake in the east.