SNEAK PEEK:

• NanoLabs has filed a legal complaint against Coinbase for alleged trademark infringement.
• Coinbase’s use of the Nano name in its futures contract products creates confusion among consumers.
• Nano was founded by Colin LeMahieu in 2014.

NanoLabs, the company behind the digital currency Nano (NANO), has filed a legal complaint against cryptocurrency exchange Coinbase for alleged trademark infringement. 

The complaint, filed on February 24 with the California Northern District Court, claims that Coinbase’s Nano Bitcoin futures contract and Nano Ether futures contract products violate trademark rights owned by NanoLabs.

According to the complaint, NanoLabs has owned the “NANO” trademark since 2015 and has been using it in connection with its digital currency products and services. The company alleges that Coinbase’s use of the Nano name in its futures contract products creates confusion among consumers and is likely to cause irreparable harm to NanoLabs’ reputation and goodwill.

The complaint seeks a permanent injunction to prevent Coinbase from using the Nano name in connection with its products, as well as damages for trademark infringement, unfair competition, and false advertising. Coinbase has not yet responded to the complaint.

On the same accord, NanoLabs has claimed that Coinbase’s use of the Nano name in its futures contract products has caused economic damage and weakened its brand identity, resulting in “actual damage and irreparable harm.” 

The legal complaint seeks a permanent injunction to prevent Coinbase from using the Nano name in connection with its products, as well as damages for trademark infringement, unfair competition, and false advertising.

Nano, which was originally named RaiBlocks, was founded by Colin LeMahieu in 2014. It was later rebranded to “Nano” on January 31, 2018. Coinbase launched its Nano Bitcoin futures contract on June 27, 2022, and its Nano Ether futures contract on August 29, 2022.