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2024-04-27

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Trader Joe's sued a DeFi platform with a similar name for trademark infringement, looking to seize all its profits. / Image by Tada Images, Adobe StockOn October 5, American grocery store chain Trader Joe's filed a federal lawsuit against a decentralized finance (DeFi) platform named Trader Joe. The lawsuit accuses the DeFi platform of trademark infringement and seeks all profits generated by the platform as damages. This lawsuit follows an unsuccessful legal attempt by Trader Joe's in 2022 to close down the platform.The Accusations in the LawsuitAccording to the lawsuit, Trader Joe's alleges that the DeFi platform did not seek permission to use the grocery store's name. "Defendants neither sought nor received Trader Joe’s permission to name their platform after Trader Joe’s,” the lawsuit states. The grocery chain had previously sent cease-and-desist letters to the platform but received no response.The DeFi platform known as Trader Joe was launched in 2021 by an anonymous team. It operates on the Avalanche blockchain and initially started as a fork of SushiSwap. Liquidity providers who deposit funds into Trader Joe earn supply-side fees from traders.The lawsuit by Trader Joe's also delves into branding issues. It claims that the DeFi platform’s employees use aliases within the company and that its use of the "Trader Joe" name helps it benefit commercially from the grocery chain's well-known trademark and broader reputation. “Obscuring their identities both from outsiders and each other in day-to-day business dealings evidences an intent to avoid detection, subvert legal process, and operate free of legal consequence,” the lawsuit says.Past Legal Encounters and New DevelopmentsLast year, Trader Joe's filed a complaint with the United Nations' World Intellectual Property Organization (WIPO), accusing the DeFi platform of capitalizing on the grocery chain's name. However, the defense from Cheng Chieh Liu, a co-founder of the Trader Joe DeFi platform, was successful, and the case was dismissed. Liu argued that the platform was actually named after his brother, Joe Liu.This defense seemed to work until a Substack newsletter from cryptofish, another co-founder of the DeFi platform, stated, “With no name for the DEX yet, [we] just named it Trader Joe, after the supermarket.” This revelation led to the new lawsuit filed in the United States District Court Central District of California. Lawyers for Trader Joe's claim the defendants concocted a false story about the platform’s name, stating, “Those representations were false, and Defendants knew of their falsity.”The lawsuit not only seeks all profits from the DeFi platform but also insists that all affiliated websites be immediately seized and the platform be permanently shut down. Former OpenSea Executive Entangled in AnubisDAO Rug Pull Allegations It’s important to note that these accusations, though provocative, remain subjective opinions and have not been proven as concrete facts. HollaEx|Start your Own Exchange in Minutes|Best White ...Even at the height of the madness, he never got caught up in a rug pull. Despite disagreeing with Buffet’s crypto critiques, Saiers cited Buffet’s advice “to be fearful when others are greedy and to be greedy only when others are fearful” as his strategy for avoiding most scams. Ethereum Open Interest Rising: What Does It Mean?

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In the short-term, he targeted a revisit of the $26,500 zone again before attempting another push higher leading up to next year’s halving. Traditionally China, Japan and other nations were the main buyers of US debt but this is not the case anymore, a change which Hayes believes will exacerbate the situation in the states. Can I convert BTC to Usdt on Coinbase?Maker Crypto price took the reversal from the high of $1599 and showcased bearishness on the daily chart. MKR key indicators RSI and MACD are indicating bearishness in the trend. However, the long-term trend is positive and probably it will rebound soon by taking support from the key EMAs. What we do want is to feed into those experiences, helping grow the existing scene by opening it up to many more players, brands and publishers. For teams and brands, Ultra Arena will nurture more esports fans and provide more ways to activate fans pre and post-event with the help of blockchain technology. This could be unlocking access to an exclusive in-game digital collectible through attending the event itself or sponsor-branded skin being airdropped to you for watching on Twitch. Extending fan engagement will ultimately add value for all key stakeholders and support the journey to sustainable profitability.

As it currently stands, every major layer-2 project has trusted parties who hold upgrade keys that can execute protocol upgrades, making it a primary point of centralization. This is because if upgrade keys were to be compromised, all deposited assets in the layer-2 protocol would be at risk. The International Monetary Fund (IMF) released its World Economic Outlook for 2024 on Tuesday, October 10. The IMF puts the pace of consumer price increases across the world to 5.8% for next year, recommending central banks to keep monetary policy tight. Old Wells: A New Frontier for Crypto-Mining and ComplaintsFive days into voting, Lido’s grant proposal faces an uphill battle, with just 50.2% of votes cast in its favor and 41 proposals earning more yes votes — and therefore passing Lido in the funding tiebreaker. Akin to many highly advanced techs, ZKPs started with an idea. The concept of Zero Knowledge Proofs was introduced by MIT research paper by Shafi Goldwasser, Silvio Micali, and Charles Rackoff in 1985, “The Knowledge Complexity of Interactive Proof System.” However, the legends’ research paper was rejected many times, but, in 1993, they won the Godel Prize, an annual prize rewarded to researchers for the most outstanding papers in the area of theoretical computer science.

Interactive ZKPs require more interaction between both parties. The prover and verifier engages in back-and-forth communication to validate the prover’s claims. These ZKPs are more flexible and can be used to prove more complex statements than non-interactive ZKPs. Maker price is down by 8.29% over the past 7 days, whereas according to the price action, the MKR price continues to move in the bear’s influence. Sellers are trying to pull Maker crypto prices toward the lower trendline. Nadex Bans Husband and Wife Over Money Pass SchemeAddressing these challenges is not just a task for individual companies but requires a collaborative effort involving regulators, financial institutions, and technology providers. It's an exciting yet complex journey. “Fear of Missing Out” or FOMO is a psychological situation when an investor may feel a mix of fear and panic for not getting a chance to gain profit that the other investors gained from the market. To cite an example, FOMO usually happens when a market goes bullish. Here, investors get into a discussion on whether or not to buy the surging market expecting that they will trade with the remaining coins.

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