According to Coindesk, US supermarket chain Trader Joe's filed a lawsuit against the cryptocurrency project Trader Joe (JOE) 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.
“The decentralized exchange Trader Joe's uses a name that is thought to be confusingly similar,” the chain said in its petition.
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 is one of the popular decentralized exchanges that initially started on the Avalanche (AVAX) network and expanded to BNB Chain, Arbitrum (ARB), and Ethereum (ETH).
Although Trader Joe's token JOE 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.
