Kanye West not happy about Coinye currency, takes legal action

Kanye West not happy about Coinye currency, takes legal action

A few days ago we told you about a new digital currency called COiNYE and its creator's hopes that its inspiration, Kanye 'Im Bigger than G-d' West would be flattered that a currency was being digitally minted in his likeness. However it seems that this is not the case and Kanye's lawyers have now filed a cease and desist motion against the young entrepreneurs and their cyber cash.

According to The Wall Street Journal Yeesuz' legal eagles submitted the legal documents in New York on Monday, along with a very strongly worded warning for Coinye's creators; “Given Mr. West’s wide-ranging entrepreneurial accomplishments, consumers are likely to mistakenly believe that Mr. West is the source of your services,” wrote attorney Brad Rose. he went on to say that if the company do not comply Kanye's camp will “notify the cryptocurrency community at large of your infringing actions and pursue all legal remedies against any business that accepts the purported COINYE WEST currency.” The motion also requests that the COINYE website and social media accounts be removed.

The COINYE guys are not scared though. Instead of caving they pushed up the launch of their offering to 7pm PST on January 7, announcing the move on their Twitter account (which they obviously have not taken down.)

Even if he wins this round Kanye may live to regret this action. COINYE is designed to be similar to Bitcoin. The creators had offered him $100,000 in their currency and should it be anywhere near as successful as Bitcoin Kanye may regret not playing ball. Lilly Allen does. She just got done lamenting on Twitter the fact that she lost about £61m turning down a similar offer (for reference, one Bitcoin is currently worth $1121 AUD)

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