Fun

Facebook’s Calibra Sued by Mobile Banking App Over Similar Logos

News Feed - 2019-10-12 02:10:23

Facebook’s Calibra is being sued for trademark infringement by mobile banking app Current, adding a potential legal showdown to the beleaguered Libra digital currency project’s growing list of woes.


The complaint, filed Thursday in the U.S. District Court for the Southern District of New York, alleges that the Calibra logo is too similar to Current’s own, which the fintech firm has been using since August 2016. Calibra is developing the Libra project’s digital wallet.


Current is seeking a preliminary injunction and monetary damages. It alleges: “The infringing mark adopted and used by the Calibra Defendants is not only confusingly similar to, but virtually identical to the Current Marks.” this is what happens when you only have 1 crayon left pic.twitter.com/2JY5JfesQD


— Current (@current) June 19, 2019



Current is an alternative, app-based banking platform that in many respects shares Libra’s goal of opening up financial services to the masses. But while Current’s solution exists within the realms of traditional banking, Libra’s sprawling vision of a digital currency-powered future is far more radical.


As it happens, the logo designs have almost identical origin stories – both were created by San Francisco-based branding firm Character, a named defendant in the suit. It was unknown if the same Character team members worked on the accounts, as Character did not respond to requests for comment.


“It is suspicious that the defendant’s logo came out of the same firm that created the plaintiff’s logo,” Howard Shire, a partner in the intellectual property department of Pepper Hamilton LLP, told CoinDesk.


But Shire, speaking only as an observer, said there could be an explanation for that, perhaps in the contracts or communications passed between firms. Those answers could likely come during pre-trial discovery – though a trial is unlikely, given that Shire says 98 percent of civil cases are settled beforehand.


Current filed an application for its logo on June 26, 2019, eight days after Facebook unveiled the Libra project and branding.


It claims exclusive use for “Downloadable software for enabling the electronic transfer of money between users” among other mobile banking-related uses, the application filed with the U.S. Patent and Trademark Office shows.


In June, Current CEO Stuart Sopp told CNBC that Facebook was taking advantage of his much smaller firm: “Facebook has all the money and resources in the world. If they truly wanted to make banking more inclusive and fair, they should’ve come up with their own ideas and branding, like we have.”


Logo image via Current/Twitter

News Feed

XRP 100x Gains Coming? The Future Is Closer Than You Think—Analyst
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
Market Update: Bull Trap Warnings After Bitcoin Shoots Above $18k Handle
Market Update: Bull Trap Warnings After Bitcoin Shoots Above $18k Handle Digital asset markets have recaptured some of the losses taken three days ago, as a grea
Bitcoin Price Almost Hits $98,000: Key Reasons Behind The Rally
Este artículo también está disponible en español. Bitcoin has reached a new all-time high, surging to $97,852 on Binance. The cryptocurrency is up 5% in the last 24 hours
These Are the Crypto Economy’s 5 Most Expensive Assets per Unit
These Are the Crypto Economy"s 5 Most Expensive Assets per Unit On July 18, the most valuable cryptocurrency in terms of dollars per unit, is bitcoin which is cu
$1.7 Billion in NFT Sales Fueled by Otherdeed Trades — NFT Volume Jumps 74% Higher Than Last Week
$1.7 Billion in NFT Sales Fueled by Otherdeed Trades — NFT Volume Jumps 74% Higher Than Last Week With the help of the Bored Ape Yacht Club’s Otherside land sale, non-fung
Solana is the fast, low-cost blockchain that simply never works
Daniel O"Keeffe8 hours agoSolana is the fast, low-cost blockchain that simply never worksSolana has experienced more than 150 hours of downtime over the last three years — and meme coins are making the problem worse.22
40 Banks in Germany Declare Intent to Offer Crypto Services Under New Law
40 Banks in Germany Declare Intent to Offer Crypto Services Under New Law More than 40 financial institutions in Germany have reportedly declared to the country’s financial
Crypto Fear and Greed Index Shows Market Sentiment Remains Fearful
Crypto Fear and Greed Index Shows Market Sentiment Remains Fearful After the Crypto Fear and Greed Index (CFGI) dropped to significant lows and pointed to “extreme fear
Solana Faces Make-Or-Break Moment As $1.77 Billion Unlock Looms
Este artículo también está disponible en español. In a technical chart shared today, crypto analyst Koroush Khaneghah, Founder of Zero Complexity Trading, underscores Sol
Gold and Bitcoin Markets Tested, While Central Banks Try to Quell Stock Market Rout
Gold and Bitcoin Markets Tested, While Central Banks Try to Quell Stock Market Rout Central banks worldwide have been bracing for the worst, as the global economy has shuddered o
HEXN․IO: New Opportunity to Earn Passive Income Through Crypto
HEXN․IO: New Opportunity to Earn Passive Income Through Crypto press release PRESS RELEASE.Crypto enthusiasts are constantly looking for new options to get passive income with cry
Over 41.5% of Mt. Gox Bitcoin distributed as creditors continue to hodl
Zoltan Vardai12 hours agoOver 41.5% of Mt. Gox Bitcoin distributed as creditors continue to hodlDespite receiving over $4 billion worth of Bitcoin, which has appreciated by over 8,500% in the 10 years since Mt. Gox colla