Trader Joe’s Opens A Can Of Trademark Woes Against Trader Joe
Photo 94517941 © Roman Tiraspolsky | Dreamstime.com
What do Trader Joe’s and the cryptocurrency world have in common? They both have dips, and they both have entities who associate with the names Trader and Joe.
In an unexpected twist of corporate clashes, famed grocery store chain Trader Joe’s has taken legal action against a lesser-known cryptocurrency exchange called Trader Joe. The lawsuit (via Decrypt), filed in a California court, alleges trademark infringement and other issues, demanding that the crypto platform cease using its name and pay damages along with legal expenses.
Trader Joe, the cryptocurrency exchange, operates as a decentralized destination for trading digital currencies. The lawsuit contends that the decentralized exchange, or DEX, has not only appropriated the name but also elements of Trader Joe’s brand identity and origin story.
It's Simple, It's Joe. pic.twitter.com/hIkd0zoaTX
— Trader Joe (@TraderJoe_xyz) August 30, 2023
According to the complaint, a Trader Joe team member had openly admitted in a Substack post that the exchange was indeed named after the well-known store. Trader Joe’s further points out that the exchange—whose co-founder is based in Singapore—has constructed a narrative around a trader named Joe who sold crops in a market, with its mascot wearing a red cap, reminiscent of the color in the grocery store’s logo.
Trader Joe's latest partner: @SavvyDeFi
— Trader Joe (@TraderJoe_xyz) August 18, 2023
Live on #Arbitrum, Savvy revolutionizes #DeFi by enabling you to unlock future yields today with auto-repaying 0% interest loans + no liquidation risk.
Savvy are also bootstrapping their Liquidity Pools with bonus $SVY so take a look 👇 pic.twitter.com/ksCS4FzMPp
The cryptocurrency platform’s founder counters that the company was named after a family member and active trader within the community, Joe Liu.
Simply... pic.twitter.com/4feB6Ww70p
— Trader Joe (@TraderJoe_xyz) September 14, 2023
Trader Joe’s is seeking punitive damages, a halt to the DEX’s use of its name, and ownership of the Trader Joe web domains, including traderjoexyz.com.
[via Axios, LAist, Boing Boing, Decrypt, images via various sources]
This article was crafted with assistance from an AI engine, and has been manually reviewed & edited.
