Rapper's lawyers put cryptocurrency creators on notice.
Kanye West may have resolved not to "rant" as much in 2014, but he's putting no pause on his legal team. Lawyers for the G.O.O.D. Music and DONDA founder have filed a cease-and-desist notice against a group of seven coders who made a cryptocurrency called "Coinye West," reports Billboard.com.
The electronic money not only has a name similar to the world renowned rapper, but it also features an image of a half-man, half-fish that looks a lot like Yeezus (pictured above).
West's lawyers say the coders have committed trademark infringement. "Given Mr. West's wide-ranging entrepreneurial accomplishments, consumers are likely to mistakenly believe that Mr. West is the source of your services," the notice reads.
West has no parts in this... as of now.
The coders have so far responded by changing the name of the currency from "Coinye West" to simply "Coinye" and have changed their ".com" address to a ".in" (based in India). They also sped up the launch, going live Tuesday night (Jan. 7), two days earlier than planned. "We want to release this to the public before the man can try to crush it," one of the coders told the Wall Street Journal. "They’ll still come after us, but that’s OK."
Cryptocurrency is a digital form of exchange that bypasses the much-criticized flat-money banking system we all use. The first known successful attempt of this kind of virtual money was in 2009 with Bitcoin.
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(Photos from left: Courtesy Coinye, Ralph, PacificCoastNews.com)