Trader Joe’s Sues Crypto Exchange Over Trademark Infringement
U.S. supermarket chain Trader Joe’s has filed a lawsuit against a decentralized cryptocurrency exchange called Trader Joe, accusing it of trademark infringement and diluting the brand. The legal action targets both the platform and its co-founder Cheng Chieh Liu, alleging that the exchange intentionally chose a name similar to the grocery retailer to create confusion.
The lawsuit also raises concerns about the exchange’s emblem, which features a figure wearing a red cap. The color red is associated with the Avalanche layer-1 blockchain, where the crypto exchange was initially launched. Trader Joe’s argues that this choice of color further strengthens the connection between the two entities.
Lingering Questions Surrounding the Lawsuit
The accused, Cheng Chieh Liu, is a Singapore resident and Chinese citizen who registered the domain traderjoexyz.com. Trader Joe’s claims that the name Trader Joe is used across various platforms including Apple App Store, YouTube, Reddit, and CoinMarketCap. The supermarket argues that these actions indicate the crypto platform’s awareness of its weak claim to the name and domain.
The decentralized exchange was developed by an anonymous team on the Avalanche blockchain and originated as a fork of the SushiSwap protocol. It allows liquidity providers to earn transaction fees by depositing funds on the platform. Trader Joe’s contends that the crypto platform is exploiting its brand and trademark for commercial gain.
Hot Take: Trader Joe’s Fights to Protect Its Brand from Crypto Platform
Trader Joe’s supermarket has taken legal action against a cryptocurrency exchange for using a similar name and allegedly diluting its brand. This case highlights the importance of protecting trademarks in the crypto space, where naming choices can impact established businesses.
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