Kanye West filed a trademark infringement lawsuit against the founders of COINYE, a digital currency with a Kanye West theme.

Kanye Sues COINYE

Not only does the digital currently, which is similar to Bitcoin, refer to West in its name, it’s logo features a caricature of the rapper. A bloated version of West’s face rests in the center of the coin wearing a pair of gold-rimmed shades.

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"Defendants have willfully and admittedly traded upon the goodwill and notoriety of Kanye West, one of the most famous entertainers and brand names in the world," reads the suit West filed against COINYE.

"In interviews with the press, defendants brazenly admit that they adopted the marks COINYE WEST, COINYE and COYE to directly associate their newly minted crypto-currency with Mr. West," the suit contined. "With each day that passes, Mr. West's reputation is irreparably harmed […] Consumers are likely to mistakenly believe that Mr. West is the source of these digital coins.”

Upon learning of the digital currency bearing his likeness, West filed a cease-and-desist letter earlier this month. Since the creators of the currency did not do as the letter asked, West's next course of action was the lawsuit.

'COINYE Is Dead'

By Tuesday, the creators of COINYE surrendered instead of going to court over the accusations of trademark infringement. “COINYE IS DEAD,” read a message on Coinyeco.in. “You win, Kanye.”

In other Kanye West legal news, he's currently under investation for allegedly assaulting a teenager who was shouting racial epithets at his fiancée Kim Kardashian.

– Chelsea Regan

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