Oracle Returns to Court, Alleges Crypto Company Violated Trademark Settlement

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Ruholamin Haqshanas

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Ruholamin Haqshanas

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Ruholamin Haqshanas is a contributing crypto writer for CryptoNews. He is a crypto and finance journalist with over four years of experience. Ruholamin has been featured in several high-profile crypto...

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November 27, 2024

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Oracle Corporation has revived a legal battle with crypto startup Crypto Oracle LLC and its owner, Louis Kerner, alleging trademark violations and a breach of a previous settlement.

The software giant filed the lawsuit in a California federal court on November 25, accusing Crypto Oracle of resuming activities that infringe on Oracle’s trademark rights and defying a 2020 court injunction, according to a report from Law360.

The dispute dates back to 2019 when Oracle initially sued Crypto Oracle for allegedly exploiting its well-known trademark to promote cryptocurrency services under the “CryptoOracle” brand.

Oracle Says Crypto Company Continued to Use its Name

The legal tussle resulted in a confidential settlement and a court order barring Crypto Oracle from using the contested name or any variation of Oracle’s trademark.

However, Oracle now claims that Crypto Oracle has reignited its infringing activities.

According to the lawsuit, the crypto startup continued to operate under the “CryptoOracle Collective” branding, maintained its infringing domain name, and launched new initiatives that Oracle asserts violate the earlier agreement.

The latest legal action accuses Crypto Oracle of trademark infringement, unfair competition, cybersquatting, and breach of the settlement agreement, among other charges.

Oracle is seeking a range of remedies, including injunctive relief, monetary damages, statutory penalties, and the removal or transfer of infringing domains.

The case comes amid the ongoing tension between established corporations and emerging crypto firms over trademarks.

Similar disputes include NanoLabs’ lawsuit against Coinbase over its Nano Bitcoin and Ether futures and the Dfinity Foundation’s claim against Meta over its infinity logo.

Meme Creator Moves to Enforce Copyright

In another incident, last week, Artist Phillip Banks, the creator behind the viral “Just a Chill Guy” meme, announced plans to enforce copyright protection on his popular character.

The announcement comes as the meme, a laid-back, anthropomorphic dog with a signature smirk and hands in pockets, has taken over the crypto world with its meteoric rise in value.

“Just putting it out there, chill guy has been copyrighted. like, legally. I’ll be issuing takedowns on for-profit related things over the next few days,” Banks wrote on X.

The “Just a Chill Guy” meme gained traction in late 2023 after Banks initially posted the illustration on social media.

The viral success of the character has extended into the cryptocurrency space, with the launch of the Solana-based memecoin, $CHILLGUY.

Serving as the coin’s mascot, the “Chill Guy” character played a pivotal role in the token’s explosive rise.

One trader, identified by the wallet address 9zW, reportedly turned a modest investment of just over $1,100 into unrealized gains exceeding $1 million.

Initially investing $233.89 during the token’s early stages on the Pump.fun meme coin launchpad, the trader capitalized on the coin’s 38,800% surge to a $4.4 million market cap within 30 hours.