Trader Joe's Sues Cryptocurrency Exchange Trader Joe for Trademark Infringement
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Trader Joe's supermarket chain is suing a decentralized exchange also called Trader Joe for trademark infringement.
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Trader Joe exchange allegedly used the name to evoke the grocery chain's brand and created a fictional origin story.
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After failing to respond to requests to stop, Trader Joe exchange claimed it was named after a co-founder's brother.
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Trader Joe's filed a lawsuit seeking damages and a jury trial against the crypto exchange.
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The price of JOE token has dropped over 4% in the past week amid the legal proceedings.