{"id":557028,"date":"2023-02-27T06:26:13","date_gmt":"2023-02-27T03:26:13","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/coinbase-hit-with-proposed-trademark-lawsuit-over-nano-derivative-products\/"},"modified":"2023-02-27T06:26:13","modified_gmt":"2023-02-27T03:26:13","slug":"coinbase-hit-with-proposed-trademark-lawsuit-over-nano-derivative-products","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/coinbase-hit-with-proposed-trademark-lawsuit-over-nano-derivative-products\/","title":{"rendered":"# Coinbase hit with proposed trademark lawsuit over Nano derivative products"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_84 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a2d4239ee05d\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a2d4239ee05d\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/coinbase-hit-with-proposed-trademark-lawsuit-over-nano-derivative-products\/#%E2%80%9D_Coinbase_hit_with_proposed_trademark_lawsuit_over_Nano_derivative_products_%E2%80%9C\" >&#8221; Coinbase hit with proposed trademark lawsuit over Nano derivative products &#8220;<\/a><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9D_Coinbase_hit_with_proposed_trademark_lawsuit_over_Nano_derivative_products_%E2%80%9C\"><\/span>&#8221; Coinbase hit with proposed trademark lawsuit over Nano derivative products &#8220;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<div class=\"post-content\" data-v-48054ca8>Crypto exchange Coinbase has been named as a defendant in a legal complaint brought by NanoLabs \u2014 the company behind the digital currency Nano (NANO) \u2014 over alleged trademark infringement.\u00a0<\/p>\n<p>In the Feb. 24 <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.courtlistener.com\/docket\/66862637\/1\/nanolabs-inc-v-coinbase-global-inc\/\">filing<\/a> with the California Northern District Court, NanoLabs alleged Coinbase&#8217;s Nano Bitcoin futures contract and Nano Ether futures contract products infringe on trademark rights owned by them.<\/p>\n<p>It\u2019s also alleged the infringement has caused\u00a0NanoLabs economic detriment and weakened\u00a0its brand identity, resulting in \u201cactual damage and irreparable harm.&#8221;\u00a0<\/p>\n<p>Colin LeMahieu founded the Nano digital currency in 2014; which was originally named RaiBlocks. It was rebranded to Nano on Jan. 31, 2018.<\/p>\n<p>Years later, Coinbase launched its Nano Bitcoin futures contract on June 27, 2022, and its Nano Ether futures contract on Aug. 29, 2022. <\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">Coinbase Derivatives Exchange has launched Nano <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/hashtag\/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw\">#Bitcoin<\/a> Futures. <\/p>\n<p>Here are the brokers we\u2019ve partnered with for you to trade it: <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/Tradovate?ref_src=twsrc%5Etfw\">@Tradovate<\/a><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/NinjaTrader?ref_src=twsrc%5Etfw\">@NinjaTrader<\/a><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/IronbeamFutures?ref_src=twsrc%5Etfw\">@IronbeamFutures<\/a><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/RealEdgeClear?ref_src=twsrc%5Etfw\">@RealEdgeClear<\/a><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/S5Trading?ref_src=twsrc%5Etfw\">@S5Trading<\/a><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/optimusfutures?ref_src=twsrc%5Etfw\">@optimusfutures<\/a> <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/jDD23hC1iv\">pic.twitter.com\/jDD23hC1iv<\/a><\/p>\n<p>\u2014 Coinbase (@coinbase) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/coinbase\/status\/1542180356589326338?ref_src=twsrc%5Etfw\">June 29, 2022<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script>In the complaint, NanoLabs argued the offerings launched by Coinbase are &#8220;derivative products&#8221; based on Bitcoin (BTC) and Ethereum (ETH), which &#8220;are identical or highly similar&#8221; to its digital currency Nano.<\/p>\n<p>It also argued that Coinbase targets the same type of consumers as NanoLabs, being &#8220;those seeking to invest in, and utilize, a digital currency,&#8221; and that the trademarks for Coinbase&#8217;s products &#8220;are identical, and [&#8230;] confusingly similar,&#8221; to NanoLabs.<\/p>\n<p>It also alleges that Coinbase had full knowledge of the Nano digital currency before launching its products due to correspondence between the two companies starting in 2018, which later resulted in Coinbase allegedly denying NanoLab&#8217;s <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>lication to list Nano on Coinbase.\u00a0<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">Nano is <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/hashtag\/DigitalMoney?src=hash&amp;ref_src=twsrc%5Etfw\">#DigitalMoney<\/a> that can be spent, sent and accepted anywhere in the world.<\/p>\n<p>An easy to use, sustainable currency that is open to all <\/p>\n<p>Visit <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/XGTa4OlvAr\">https:\/\/t.co\/XGTa4OlvAr<\/a> to learn more. <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/ZWvfSFLLtO\">pic.twitter.com\/ZWvfSFLLtO<\/a><\/p>\n<p>\u2014 Nano (@nano) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/nano\/status\/1564626596929085450?ref_src=twsrc%5Etfw\">August 30, 2022<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>&#8220;Thus, since at least October 17, 2018, various department heads and directors, as well as associates, in various departments at Coinbase were familiar with the Nano Digital Currency.&#8221; <\/p>\n<p>NanoLabs further argued that Coinbase should \u201chave known that offering Nano Bitcoin on the Coinbase Derivates Exchange would only further consumer confusion.\u201d\u00a0<\/p>\n<p>\u201cParticularly because the Nano Digital Currency is not listed on the Coinbase Exchange, and Defendants\u2019 provide no disclaimer, distinction, or otherwise to educate consumers to this point,\u201d the court documents read.<\/p>\n<p><strong><em>Related: <\/em><\/strong><strong><em>Judge dismisses proposed class-action suit alleging Coinbase securities sales<\/em><\/strong><\/p>\n<p>NanoLabs is asking the Court for an injunction against Coinbase to stop them from using the word &#8220;Nano&#8221; and all associated trademarks and domain names of a similar nature.<\/p>\n<p>NanoLabs is also seeking at least $5 million in damages, corrective advertising from Coinbase, destruction of all materials infringing on the Nano trademark, and forfeiture of all profits Coinbase made using Nano trademarks. It has requested a jury trial. <\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2023-02\/168ceae4-dea4-4231-a508-0ce16467c0d9.JPG\" alt=\"\" title=\"\"><figcaption style=\"text-align: center;\"><em>Excerpt from NanoLabs complaint against Coinbase. Source: Courtlistener<\/em><\/figcaption><\/figure>\n<p>Cointelegraph reached out to both Coinbase and NanoLabs for comment but did not receive a reply by the time of publication.<\/p>\n<p><template data-name=\"subscription_form\" data-type=\"markets_outlook\"><\/template><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/coinbase-hit-with-proposed-trademark-lawsuit-over-nano-derivative-products\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8221; Coinbase hit with proposed trademark lawsuit over Nano derivative products &#8220; Crypto exchange Coinbase has been named as a defendant in a legal complaint brought by NanoLabs \u2014 the company behind the digital currency Nano (NANO) \u2014 over alleged trademark infringement.\u00a0 In the Feb. 24 filing with the California Northern District Court, NanoLabs alleged&#8230;<\/p>\n","protected":false},"author":1,"featured_media":557029,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/s3.cointelegraph.com\/uploads\/2023-02\/44ce08e5-aadd-4fd6-b9ed-cb4dc6a7dd90.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74862,74863,75159,74891,105698,117,71433,67874],"class_list":["post-557028","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-bitcoin","tag-cryptocurrencies","tag-digital-currency","tag-ethereum","tag-nano","tag-business","tag-court","tag-united-states"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/557028","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=557028"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/557028\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/557029"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=557028"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=557028"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=557028"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}