According to Coindesk, US supermarket chain Trader Joe’s, cryptocurrency project Trader Joe (JOE) sued for trademark infringement.
Accordingly, the supermarket chain Trader Joe’s claimed in its complaint petition to the court that the decentralized exchange (DEX) Trader Joe’s chose this name to benefit from its own popularity.
At this point, the chain market filed a lawsuit against the crypto platform “Trader Joe” and its co-founder Cheng Chieh Liu, on the grounds that they deliberately chose a name similar to the name of the supermarket and violated the naming rights of the grocery chain.
In its petition, the chain market also objected to Trader Jeo’s logo, which features an image of “Trader Joe” wearing a red beret, the main color of its brand.
The petition stated that co-founder Liu is a Chinese citizen who resides in Singapore and registered the domain name traderjeoxyz.com.
In the chain market petition “decentralized exchange Trader Joe’s uses a name thought to be confusingly similar” he stated.
Stating that Trader Joe’s did not notify them or obtain permission, the plaintiff wrote the following in his petition:
“Defendants neither sought permission nor provided notice to name their platform after Trader Joe’s.
“We also sent them a letter to stop this violation, but we did not receive any response.”
What is Trader Joe’s?
Trader Joe’s initially Avalanche (AVAX) starting in the network and BNB Chain to Arbitrum (ARB) and Ethereum (ETH) It is one of the popular decentralized exchanges that is expanding.
Trader Joe’s token JOE Although it started the day with an increase and reached up to $ 0.245, it later fell and is traded at $ 0.235 at the time of writing.
*This is not investment advice.
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