Finco Services of Delaware has initiated a lawsuit against Facebook in a New York court, Oct.10, over the swirly tilde logo Facebook uses for its Libra token.
The plaintiff is also suing its former designer, who did the logo work for Facebook, for reusing the design.
Looking for a logoFinco Services alleges trademark infringement, unfair competition, and "False designation of origin" against Facebook over its use of the swirly tilde logo.
The company provides online banking services through a mobile app, doing business under the name Current.
In 2016, it paid a company called Character SF to design a logo for the brand, which it registered with the U.S. Patent and Trademark Office.
This registration covered a number of business activities, specifically including "In connection with a mobile computer software application used for enabling cryptocurrency-based transactions."
The problem arose when Facebook also went to Character SF, looking for branding for its proposed cryptocurrency, Libra.
The resulting designs feature numerous tilde shapes, but the Calibra logo produced is virtually identical to the logo used by Finco for its Current app and debit cards.
Facebook CEO Mark Zuckerberg will also testify before Congress on Oct. 23, regarding his companies intentions for the Libra currency.
Facebook Sued for Trademark Infringement Over Libra Logo Design
gepubliceerd op Oct 11, 2019
by Cointele | gepubliceerd op Coinage
Coinage
Recent nieuws
Alles zien
Blockchain Bites: Bitcoin's Run, Uniswap's Hemorrhaging Value, Anchorage's Banking Bid
Bitcoin is nearing all-time highs in price and market cap last set three years ago.
Japan's megabanks to lead experiment with digital yen
We have, in order, Cheese Bank with a $3.3 million theft, Akropolis with its $2 million loss, Value DeFi with a whopping $6 million exploit and finally Origin Protocol's loss of $7 million.
Number of new Bitcoin addresses spikes amid growing FOMO
Japan's three largest banks, as part of a group of 30 private sector actors, are set to collaborate on an experiment with a digital yen.
Not just Wall Street: Quant trader explains why Bitcoin price is going up
Sam Trabucco, a quantitative trader at Alameda Research, believes four general factors are pushing up the price of Bitcoin.