Rapper Kanye West has filed a lawsuit against a digital currency company for trademark infringement.
In court documents filed in a Manhattan federal court, West claims Coinye is using his likeness to promote its company. The logo of the coin features a cartoon-like image of West.
Amazon.com, which acts as a host for online enterprises that exchange Coinye, is also named in the suit.
West's legal team requested the company remove the image on January 6, however it was seemingly denied as the company launched their business on January 11.
But on January 14, one of the websites associated with Coinye, www.coinyeco.in, posted a message on its homepage reading "Coinye is dead. You win, Kanye." According to a Tweet by Twitter handle @CoinyeCoins, they have appeared to back down from the legal fight and plan to revamp their company. The Tweet read, "Coinye devs have dispersed. New ownership, better things coming", alongside the hashtag #BlameKanye.
Coinye, also known as crypto-currency, is similar to Bitcoin, a paperless currency people can use like cash anywhere in the world.
Presented by Adam Justice