The Dogecoin Foundation, founded by the token’s inventors, has applied for the trademark. However, DOGE is now embroiled in a trademark dispute over its name. Meanwhile, the DOGE millionaire, who took advantage of Dogecoin’s meteoric rise and resigned from his job, re-emerged as the chairman of the board of a company.
Dogecoin at the center of trademark dispute
The Dogecoin Foundation, a non-profit organization founded in Denver, Colorado by the original token’s inventors, has filed a trademark for the name. But the foundation isn’t the only one claiming ownership of the Dogecoin trademark. Applicants seeking control of the Dogecoin trademark submitted at least half a dozen documents to the U.S. Patent and Trademark Office. The nonprofit was dormant for years before resurrecting in August for lobbying and support for the cryptocurrency. Jared Birchall, representative of Elon Musk, and Vitalik Buterin, co-founder of Ethereum, are also on the board.
Many questioned the decision to trademark a brand eight years later, and opponents claimed that the foundation was only re-established when Dogecoin became one of the top five cryptocurrencies. Many people have benefited from it by keeping the Dogecoin brand alive, even though the original organization is no longer active. Moon Rabbit AngoZaibatsu LLC in the Cook Islands is one such company that has applied for the Dogecoin trademark. The founder of the company, Versitti, stated that they did not do this in bad faith. Others have said that trying to trademark anything that is essentially a copy is ironic at best.
DOGE millionaire reappears
cryptocoin.com The former Goldman Sachs executive who resigned from his job after becoming a DOGE millionaire has resurfaced as Chairman of a UK healthcare company. Aziz McMahon will join SpectrumX as Chairman of the Board, focusing on investor relations, corporate governance and the creation of the company’s new ESG policy. McMahon was previously at the helm of emerging market sales at the US investment bank, but resigned this year after profiting from Dogecoin’s meteoric rise.
It is unclear how much money McMahon made from Dogecoin, the ninth largest cryptocurrency in the world by market capitalization, before leaving after working at Goldman for more than 14 years. However, the coin peaked at a price of $0.74 in May, up 25,054 percent in a year, shortly before McMahon stepped down.
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