Yeezus was an album that represents rebellion—and Coinye founders have drawn inspiration from the critically-acclaimed project for their latest antics.
Yesterday, the Wall Street Journal reported Kanye West and his lawyers disapprove of the cryptocurrency, and accuses the company of trademark infringement for using Ye’s face as their logo.
In a cease and desist letter, they argue consumers are likely to associate Coinye as a service provided by the Late Registration rapper, submitting an official statement explaining: “Given Mr. West’s wide-ranging entrepreneurial accomplishments, consumers are likely to mistakenly believe that Mr. West is the source of your services.”
Despite Kanye’s efforts to stop Coinye, the cryptocurrency is still launching on schedule. Their website strategically features a different name, coinyeco.in rather than the original coinyewest.com, and also acknowledges their recent legal battle. Coinye’s new logo also pokes fun at Yeezy, depicting the transcendent artist as a fish — referencing South Park’s infamous trolls on the sampling genius.
According to their official page, Coinye is set to launch at 10 p.m. EST. With emerging cryptocurrency units relying on viral buzz, many business insiders predict a lawsuit and relevant media coverage will only prolong the brand’s lifespan by raising awareness to the medium.