US Supermarket Trader Joe’s Takes Legal Action Against Crypto Project Over Name Resemblance
U.S. grocery store chain Trader Joe’s has taken legal action against a cryptocurrency project called TraderX. The company has argued that TraderX is unfairly taking advantage of its legacy by using a name that bears a too-close resemblance to “Trader Joe’s.” According to U.S. legal documents, Trader Joe’s believes that customers may be confused between the two brands, and that TraderX’s actions are resulting in the “dilution” of its own brand. The documents also claim that the actions are “likely to cause confusion, mistake, or deception” of the public. The lawsuit is seeking unspecified damages and an injunction against the cryptocurrency’s continued use of the name.