Kanye West Sues Coinye, Cryptocurrency Decides to Shut Down Instead
Scared of the lawsuit, developers behind the currency decided to call it quits
Now that Bitcoin is so popular, everyone wants a piece of the success and some even to launch a new cryptocurrency, dubbing it coinye and using Kanye West’s image to market it. After the rapper decided to sue the company, they waved the white flag and called it quits.The logo of the currency features a cartoon version of West wearing his silly shutter shades, something that the artist didn’t really enjoy.
So what was he to do, but sue them. Pretty much as soon as the suit was filed for copyright infringement, backers of the cryptocurrency decided to quit before they became bankrupt.
Visitors of the currency’s site can now view another cartoon-like image with the message “Coinye is dead. You win, Kanye.”
The rapper tried to stop them before and sent a cease and desist letter, but developers defied him and simply launched the cryptocurrency early.