TechFlow reported, according to Blockworks, that U.S. supermarket chain Trader Joe's has recently filed a lawsuit against the decentralized exchange (DEX) named "Trader Joe" and its co-founder Cheng Chieh Liu, accusing them of intentionally choosing a name similar to the supermarket's.
The lawyers claim that the DEX built a narrative around a fictional "Trader Joe" closely associated with the supermarket brand; in addition, the crypto company’s logo features an image of a "Trader Joe" wearing a red hat, with red being the primary color of the supermarket brand (the DEX also used red as its initial theme color upon launch).
Trader Joe's argues that due to the brand similarity, the cryptocurrency platform is commercially benefiting from the supermarket’s brand and reputation. The chain is seeking a court order to compel the crypto company to cease using variations of its name in business operations, as well as requesting ownership of relevant domain names and any damages determined through legal proceedings.
