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Trader Joe’s supermarket chain, has filed a lawsuit against the cryptocurrency project JOE for trademark infringement. The chain store claims that the decentralized exchange chose exchange’ s name to capitalize on its popularity.
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The US supermarket chain Joe’s, has filed a lawsuit against the cryptocurrency project JOE for trademark infringement. According to Coindesk, the store claimed in the court that the DEX trying to benefit from their the popularity of their name.
The petition also objected to the logo featuring the image of “Trader Joe” wearing the red beret, which is the main color of Joe’s own brand. The plaintiff sued the platform and its co-founder Cheng Chieh Liu, accusing them of deliberately violating their name rights.
Trader Joe is a popular decentralized exchange that initially started operating on the Avalanche (AVAX) network and expanded to the BNB Chain, Arbitrum (ARB), and Ethereum (ETH). However, the value of JOE token is currently trading at $0.235, following the recent downturn.
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