“COINYE” Digitial Currency Earns Lawsuit from Kanye West
Popular rapper and international star Kanye West has filed suit for trademark infringement against the makers of a new digital currency called “COINYE” and featuring a cartoon image of the rapper wearing the sunglasses that have become a staple of his image. The suit claims that “Defendants have willfully and admittedly traded upon the goodwill and notoriety of Kanye West, one of the most famous entertainers and brand names in the world.” It goes on to state that, in interviews with the press, Defendants have “admit[ted] that they adopted the marks COINYE WEST, COINYE and COYE to directly associate their newly minted crypto-currency with Mr. West.” Mr. West’s position is that his brand and image are being harmed and that consumers mistakenly believe Mr. West is associated with the digital currency. As evidence of such belief, the lawsuit cites the following tweets:
"Kanye West now has a currency," from Twitter user Christopher Hudson.
"Move over bitcoin, @kanyewest is about to create the greatest digital currency of all time," from Twitter user Chase Graves. The programmers, on the other hand, argue that they have revised their use and websites and that COINYE should now be considered a parody and, therefore, be protected. “We respect Mr. Kanye,” one programmer behind the digital currency has said.
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