If you want to name a virtual joke after Kanye West, be warned: the rapper does not take his name and likeness lightly. Last week, Music Times reported that a new cryptocurrency, Coinye West was set to launch Jan. 11. Instead of being flattered that the Internet money would be named after him, Yeezus himself has issued Coinye West's creators a cease-and-desist letter.
According to The Wall Street Journal, West's lawyers at Pryor Cashman LLP have issued a cease-and-desist to the seven anonymous Coinye West creators, citing an illegal use of West's likeness.
"Given Mr. West's wide-ranging entrepreneurial accomplishments, consumers are likely to mistakenly believe that Mr. West is the source of your services or is, at the very least, affiliated with, or has sponsored or endorsed the cryptocurrency," the letter reads, mostly taking issue with an image of West that appears on the coin (seen above).
Despite the legal threats, the letter has not deterred the Coinye creators. Instead, they're pushing up the launch date, perhaps launching the cryptocurrency as early as tonight (Jan. 7). "We want to release this to the public before the man can try to crush it. They'll still come after us, but that's OK," said one of the creators.
Even if Coinye West is crushed by "the man," Internet users will still have a variety of cryptocurrencies at their e-fingertips. BitCoin, dogecoin, Ripple and more are all still going strong.
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