Fun

News Feed - 2023-11-04 03:11:02

Tom Blackstone5 hours agoBitcoin Magazine claims Fed accused it of trademark violation for T-shirtsCrypto publication Bitcoin Magazine claims it has been threatened with legal action over “FedNow” T-shirts, hats and other items.1732 Total views7 Total sharesListen to article 0:00NewsJoin us on social networksThe United States Federal Reserve has sent a cease-and-desist letter to crypto media publication Bitcoin Magazine, accusing it of trademark violations, according to a Nov. 3 post from the publication. Bitcoin Magazine claims it is being targeted because of its use of the word “FedNow” on “t-shirts, hats, and other wearables.” FedNow is the trademarked name of the Federal Reserve’s instant payment system.The U.S. Federal Reserve is threatening to sue Bitcoin Magazine, alleging apparel that parodies its FedNow system is not protected speech, but copyright infringement.@markgoodw_in with Bitcoin Magazine’s response:https://t.co/PYmeZHBYWO— Bitcoin Magazine (@BitcoinMagazine) November 3, 2023


Bitcoin Magazine carries some merchandise in its store that features the word “FedNow” printed on it, but with the “O” in the word having been replaced with an image of an eye.Bitcoin Magazine FedNow T-shirt. Source: Bitcoin Magazine


According to the post, the Fed claimed these items “mislead readers into believing a connection exists between the publication and the central bank.”


In response, Bitcoin Magazine’s legal team sent a letter to the Federal Reserve denying the allegation. The merchandise is “undeniably parodic in nature,” the letter stated, as it was created “for the purpose of parody and political criticism directed at the Federal Reserve.” 


As evidence, the letter pointed to the image of an eye found in the designs, which it referred to as a “surveillance eye.” In a separate open letter referenced in the post, Bitcoin Magazine referred to the eye as an “all-seeing eye that symbolizes the state of total financial surveillance that [the Federal Reserve] is seeking to impose on the American financial system.”


The term “all-seeing eye,” or the “Eye of Providence,” refers to a symbol found in Jacopo Pontormo’s 1525 painting, Supper at Emmaus, and later featured on the back side of a U.S. one-dollar bill.Eye of Providence on the back of a U.S. one-dollar bill. Source: Wikipedia


In its post, Bitcoin Magazine stated that it would not stop printing or selling its “FedNow” line of merchandise, as it believes the items constitute protected free speech under the First Amendment.


FedNow is an interbank payment system launched by the Federal Reserve in July. It allows banks and money transmitter services to make payments instantly, without needing to rely on the automated clearing house (ACH) system used in the past. Bitcoin Magazine has heavily criticized FedNow in its articles and videos, claiming that it is a “scam” that allows the government to “keep controlling you, your business, and everyone else’s.”


Related:FedNow showcases DLT-powered payments system as service provider


FedNow has also been criticized by U.S. presidential candidates Ron Desantis and Robert Kennedy, Jr. They claim it’s paving the way for a future central bank digital currency, which they say will violate Americans’ privacy. The Federal Reserve has denied that its service has anything to do with a CBDC.# Bitcoin# Federal Reserve# Adoption# MediaAdd reactionAdd reactionRead moreHelp or hindrance: Is Web3 really improving mainstream industry and products?Opinion: With Bitcoin’s halving months away, it may be time to go risk-onInvesco Galaxy spot Bitcoin ETF joins BlackRock on DTCC site

News Feed

Time is Ticking for GameStop to Figure Out Its Future
| Image: ShutterstockFor all of the amazing businesses that the Internet has launched, it is also put a number of them out of business. We already know that Amazon is mowing its way
Bitcoin’s days below $70K are numbered as traders cite BTC’s swing low as the bottom
Nancy Lubale6 hours agoBitcoin’s days below $70K are numbered as traders cite BTC’s swing low as the bottomA bullish chart pattern has bulls setting $72,000 as the new Bitcoin price target.4069 Total views6 Total sha
Turner Wright3 hours agoSuperseding indictment against Sam Bankman-Fried includes using $100M for campaign contributionsSam Bankman-Fried allegedly used more than $100 million in user funds “in campaign contributions t
Leading Auction House Christie’s Listing Bitcoin Art for the First Time
Leading Auction House Christie"s Listing Bitcoin Art for the First TimeThe world’s largest auction house, Christie’s, will be presenting Bitcoin artwork for the first ti
Bitfinex Executives Deny Allegations of Issuing USDT to Pump BTC – “Tether Backed by Cash Assets and a Loan”
Bitfinex Executives Deny Allegations of Issuing USDT to Pump BTC – "Tether Backed by Cash Assets and a Loan" Bitfinex general counsel Stuart Hoegner has dismi
OpenAI offers GPT-4o fine-tuning for companies in AI service shift
Amaka Nwaokocha50 minutes agoOpenAI offers GPT-4o fine-tuning for companies in AI service shiftOpenAI is paving the way for a new era of AI as a service and increasing its model training materials.193 Total views4 Total
US Senator Says Cryptocurrencies Put Americans’ Hard-Earned Money at Risk
US Senator Says Cryptocurrencies Put Americans" Hard-Earned Money at Risk U.S. Senator Sherrod Brown says cryptocurrencies are not real dollars and they “p
Cumulative Ethereum Transaction Fees in 2020 Supersede Bitcoin’s by a Long Shot
Cumulative Ethereum Transaction Fees in 2020 Supersede Bitcoin"s by a Long ShotThis week the research and analysis team Coin Metrics published a report on how decentralized finance
Bitcoin Realized Profits At Normal Levels —  BTC Upward Run To Continue?
Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and pu
Biggest Movers: UNI Moves Into Top 20, as SHIB Hits Highest Point Since May
Biggest Movers: UNI Moves Into Top 20, as SHIB Hits Highest Point Since May Uniswap moved into the crypto top 20 on Wednesday, relegating MATIC, after surging by over 10% today. UN
dYdX v3 compromised in an apparent DNS attack
Christopher Roark6 hours agodYdX v3 compromised in an apparent DNS attackAn attacker appears to have installed a token-draining program on the official domain for dYdX version 3.0.853 Total views2 Total sharesListen to a
‘Dr. Doom’ Nouriel Roubini to Launch Tokenized Dollar Replacement — With Payment and ESG Features
"Dr. Doom" Nouriel Roubini to Launch Tokenized Dollar Replacement — With Payment and ESG Features Economist Nouriel Roubini, a crypto skeptic known as “Dr. Doom,” i